INCOME TAXES |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | 10. INCOME TAXES There were no unrecognized tax benefits as of June 30, 2026. The Company records interest and penalties on potential income tax deficiencies as income tax expense. The Company's federal and state tax returns for the 2022 through 2025 tax years are subject to examination as of June 30, 2026. The Company does not expect to record or realize any material unrecognized tax benefits during 2026. The amount of affordable housing tax credits, amortization, and tax benefits recorded as income tax expense for the three months ended June 30, 2026 were $2.5 million, $2.8 million, and $0.8 million, respectively, compared to $1.9 million, $2.2 million, and $0.6 million, respectively, for the three months ended June 30, 2025. The amount of affordable housing tax credits, amortization, and tax benefits recorded as income tax expense for the six months ended June 30, 2026 were $5.1 million, $5.5 million, and $1.5 million, respectively, compared to $3.9 million, $4.4 million, and $1.3 million, respectively, for the six months ended June 30, 2025. The carrying value of the investment in affordable housing credits was $144.3 million at June 30, 2026, compared to $115.8 million at December 31, 2025 and is included in the Other assets line item on the unaudited Consolidated Statements of Financial Condition. Unfunded commitments related to our investment in affordable housing credits were $96.1 million at June 30, 2026, compared to $72.7 million at December 31, 2025 and are included in the Other liabilities line item on the unaudited Consolidated Statements of Financial Condition.
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