QUALIFIED AFFORABLE HOUSING PROJECT INVESTMENTS	6 Months Ended
QUALIFIED AFFORABLE HOUSING PROJECT INVESTMENTS	Jun. 30, 2023
Federal Home Loan Banks [Abstract]
QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS	QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTSThe Company is invested in qualified affordable housing projects that are expected to provide federal and state tax credits in the future. The investments are accounted for using the proportional amortization method. As of June 30, 2023 and December 31, 2022, the Company was committed to invest $19.3 million and $17.9 million, respectively, of which $5.7 million and $4.8 million, respectively, had been funded and was included in prepaid expenses and other assets in the consolidated statements of financial condition. The total unfunded commitments related to the investments totaled $13.6 million and $13.1 million at June 30, 2023 and December 31, 2022, respectively, and were included in other liabilities and accrued expenses in the consolidated statements of financial condition. During the three and six months ended June 30, 2023, the Company recognized amortization expense of $380 thousand and $744 thousand, respectively, and tax benefits related to the investments of $124 thousand and $243 thousand, respectively. During the three and six months ended June 30, 2022, the Company recognized amortization expense of $129 thousand and $265 thousand, respectively, and tax benefits related to the investments of $169 thousand and $365 thousand, respectively. Amortization expense and tax benefits are included in the provision for income taxes in the unaudited consolidated statements of income.

Luther Burbank Corp 10-Q