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Leases (Tables)
3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Summary of supplemental balance sheet information related to leases

    

    

 

 

(Dollars in thousands)

March 31, 2021

December 31, 2020

Operating lease ROU asset

$

53,802

$

50,743

Operating lease liability

$

58,080

$

59,100

Weighted-average remaining lease term-operating leases

 

7.9 years

 

8.3 years

Weighted average discount rate-operating leases

 

3.2

%  

 

3.2

%

Schedule of components of lease expense and cash flow information related to leases

 

At or for the three months ended

(Dollars in thousands)

March 31, 2021

March 31, 2020

Lease Cost

 

  

 

  

Operating lease cost

$

2,104

$

1,885

Short-term lease cost

 

35

 

34

Variable lease cost

 

298

 

264

Total lease cost

$

2,437

$

2,183

Other information

 

  

 

  

Cash paid for amounts included in the measurement of lease liabilities

 

  

 

  

Operating cash flows from operating leases

$

5,630

$

1,982

Right-of-use assets obtained in exchange for new operating lease liabilities

$

4,760

$

23

Schedule of Minimum annual rental payments for Bank facilities due under non-cancelable leases

The Company’s minimum annual rental payments for Bank facilities due under non-cancelable leases are as follows as of March 31, 2021:

Minimum Rental

(In thousands)

Years ended December 31:

2021

$

6,758

2022

9,145

2023

9,276

2024

9,119

2025

8,479

Thereafter

22,898

Total minimum payments required

65,675

Less: Implied interest

7,595

Total lease obligations

$

58,080

The Company’s minimum annual rental payments for Bank facilities due under non-cancelable leases are as follows as of December 31, 2020:

Minimum Rental

(In thousands)

Years ended December 31:

2021

$

8,757

2022

8,871

2023

9,006

2024

8,847

2024

8,212

Thereafter

23,547

Total minimum payments required

$

67,240

Less: Implied interest

8,140

Total lease obligations

$

59,100