v3.26.1
VARIABLE INTEREST ENTITIES (Tables)
6 Months Ended
Jun. 30, 2026
Consolidated VIEs  
VARIABLE INTEREST ENTITIES  
Schedule of the carrying value and classification of assets and liabilities of VIEs

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​

​

​

​

​

​

​

Consolidated VIEs (in thousands)

  ​ ​ ​

​

June 30, 2026

  ​ ​ ​

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December 31, 2025

Assets:

​

​

​

​

​

​

Cash and cash equivalents

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$

396

​

$

439

Restricted cash

​

​

2,120

​

​

2,452

Receivables, net

​

​

31,532

​

​

27,570

Other assets

​

​

11,239

​

​

7,257

Total assets of consolidated VIEs

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$

45,287

​

$

37,718

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​

​

​

​

​

​

Liabilities:

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​

​

​

​

​

Other liabilities

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$

13,748

​

$

9,888

Total liabilities of consolidated VIEs

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$

13,748

​

$

9,888

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​

​

​

​

​

​

Nonconsolidated VIEs  
VARIABLE INTEREST ENTITIES  
Schedule of the carrying value and classification of assets and liabilities of VIEs

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​

​

​

​

​

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​

Nonconsolidated VIEs (in thousands)

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​

June 30, 2026

  ​ ​ ​

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December 31, 2025

Assets

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​

​

​

​

​

Committed investments in tax credit equity

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$

170,671

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$

241,401

Other assets: Equity-method investments

​

​

97,770

​

​

93,018

Total interests in nonconsolidated VIEs

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$

268,441

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$

334,419

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​

​

​

​

​

​

Liabilities

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​

​

​

​

​

Commitments to fund investments in tax credit equity

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$

174,093

​

$

219,949

Total commitments to fund nonconsolidated VIEs

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$

174,093

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$

219,949

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​

​

​

​

​

​

Maximum exposure to losses(1)(2)

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$

268,441

​

$

334,419

(1)Maximum exposure is determined as “Total interests in nonconsolidated VIEs.” The maximum exposure for the Company’s investments in tax credit equity is limited to the carrying value of its investment, as there are no funding obligations or other commitments related to the nonconsolidated VIEs other than the amounts presented in the table above.
(2)Based on historical experience and the underlying expected cash flows from the underlying investment, the maximum exposure of loss is not representative of the actual loss, if any, that the Company may incur.