The following table summarizes the Company’s tax credit investments as of September 30, 2026 and December 31, 2025.
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September 30, 2026 |
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December 31, 2025 |
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(unaudited) |
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Investment Type |
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Investment |
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Unfunded
Commitment |
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Investment |
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Unfunded
Commitment |
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Low Income Housing Tax Credit (LIHTC) |
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$ |
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28,751 |
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$ |
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14,850 |
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$ |
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24,570 |
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$ |
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12,540 |
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Historic Tax Credit (HTC) |
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1,520 |
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— |
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1,835 |
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1,943 |
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Total |
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$ |
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30,271 |
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$ |
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14,850 |
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$ |
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26,405 |
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$ |
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14,483 |
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The following table summarizes the amortization expense and tax credits recognized for the Company’s tax credit investments for the three and nine months ended September 30, 2026 and 2025 (unaudited):
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Three months ended September 30, |
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For the nine months ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Amortization expense: |
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LIHTC |
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$ |
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606 |
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$ |
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442 |
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$ |
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1,819 |
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$ |
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1,326 |
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HTC |
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105 |
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105 |
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315 |
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315 |
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Total |
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$ |
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711 |
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$ |
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547 |
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$ |
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2,134 |
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$ |
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1,641 |
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Tax credits recognized: |
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LIHTC |
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$ |
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616 |
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$ |
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448 |
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$ |
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1,847 |
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$ |
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1,344 |
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HTC |
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128 |
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128 |
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384 |
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384 |
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Total |
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$ |
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744 |
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$ |
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576 |
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$ |
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2,231 |
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$ |
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1,728 |
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