v3.26.1
Other Assets
6 Months Ended
Jun. 30, 2026
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Other Assets

Note 7 — Other Assets

The Corporation has invested in a number of limited partnerships that provide income tax, financial, and regulatory benefits due to the nature of the partnerships. Our investment in and unfunded commitments to these partnerships are as follows:

 

 

June 30, 2026

 

 

December 31, 2025

 

Investment:

 

(In Thousands)

 

Low-Income Housing Tax Credit

 

$

53,982

 

 

$

48,472

 

Small Business Investment Company

 

 

17,628

 

 

 

14,797

 

Other Limited Partnerships

 

 

2,613

 

 

 

3,128

 

Historic Rehabilitation Tax Credit

 

 

1,217

 

 

 

1,970

 

Total limited partnership investments

 

$

75,440

 

 

$

68,367

 

Unfunded commitment:

 

 

 

 

 

 

Small Business Investment Company

 

$

18,957

 

 

$

10,973

 

Other Limited Partnerships

 

 

1,011

 

 

 

1,542

 

Total limited partnership commitments

 

$

19,968

 

 

$

12,515

 

A summary of accrued interest receivable and other assets was as follows:

 

 

June 30, 2026

 

 

December 31, 2025

 

 

 

(In Thousands)

 

Accrued interest receivable

 

$

12,782

 

 

$

13,100

 

Net deferred tax asset

 

 

13,555

 

 

 

13,176

 

Investment in limited partnerships

 

 

75,440

 

 

 

68,367

 

Prepaid expenses

 

 

5,698

 

 

 

4,791

 

Other assets

 

 

11,002

 

 

 

8,038

 

Total accrued interest receivable and other assets

 

$

118,477

 

 

$

107,472

 

 

For the six months ended June 30, 2026 and 2025, the Corporation amortized tax credit investments of $3.8 million and $3.1 million, respectively, and recognized tax credits and other benefits for the six months ended June 30, 2026 and 2025 of $4.9 million and $3.9 million, respectively, within the income tax expense line on the unaudited Consolidated Statements of Income.