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Leases | 6 Months Ended
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Jun. 30, 2023
Leases |
Leases | 7. Leases The Company has 31 operating leases for branches (including headquarters) and office spaces, 9 operating leases for vehicles, and one operating lease for equipment. Our leases have remaining lease terms ranging from four months to approximately 13 years, none of which has a renewal option reasonably certain of exercise, which has been reflected in the Company’s calculation of the lease term. The Company has elected the short-term lease recognition exemption such that the Company will not recognize Right of Use (“ROU”) assets or lease liabilities for leases with a term of less than 12 months from the commencement date. The Company has four agreements in 2023 and two agreements in 2022 that qualified as short-term leases. ​ Certain leases have escalation clauses for operating expenses and real estate taxes. The Company’s non-cancelable operating lease agreements expire through 2036. ​ Supplemental balance sheet information related to leases are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) | ​ | June 30, 2023 | ​ | December 31, 2022 | ​
Operating lease ROU asset | ​ | $ | 41,526 | ​ | $ | 43,289 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease liability | ​ | $ | 44,402 | ​ | $ | 46,125 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average remaining lease term-operating leases | ​ |  | 6.5 years | ​ | ​ | 6.6 years | ​
Weighted average discount rate-operating leases | ​ |  | 3.2 | % | ​ | 2.9 | %
​ The components of lease expense and cash flow information related to leases were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | For the three months ended
(In thousands) | ​ | Line Item Presented | ​ | June 30, 2023 | ​ | June 30, 2022 | ​
Lease Cost | ​ | ​ | ​ |  |  | ​ |  |  | ​
Operating lease cost | ​ | Occupancy and equipment | ​ | $ | 2,143 | ​ | $ | 2,099 | ​
Operating lease cost | ​ | Other operating expenses | ​ | ​ | 23 | ​ | ​ | 26 | ​
Short-term lease cost | ​ | Professional services, Occupancy and equipment and Other operating expenses | ​ |  | 82 | ​ |  | 36 | ​
Variable lease cost | ​ | Occupancy and equipment | ​ |  | 281 | ​ |  | 238 | ​
Total lease cost | ​ | ​ | ​ | $ | 2,529 | ​ | $ | 2,399 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other information | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​
Cash paid for amounts included in the measurement of lease liabilities | ​ | ​ | ​ |  |  | ​ | ​ | ​ | ​
Operating cash flows from operating leases | ​ | ​ | ​ | $ | 2,261 | ​ | $ | 2,343 | ​
Right-of-use assets obtained in exchange for new operating lease liabilities | ​ | ​ | ​ | $ | 1,198 | ​ | $ | — | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | For the six months ended
(In thousands) | ​ | Line Item Presented | ​ | June 30, 2023 | ​ | June 30, 2022 | ​
Lease Cost | ​ | ​ | ​ |  |  | ​ |  |  | ​
Operating lease cost | ​ | Occupancy and equipment | ​ | $ | 4,442 | ​ | $ | 4,198 | ​
Operating lease cost | ​ | Other operating expenses | ​ | ​ | 46 | ​ | ​ | 48 | ​
Short-term lease cost | ​ | Professional Services, Occupancy and equipment and Other operating expenses | ​ |  | 138 | ​ |  | 97 | ​
Variable lease cost | ​ | Occupancy and equipment | ​ |  | 523 | ​ |  | 438 | ​
Total lease cost | ​ | ​ | ​ | $ | 5,149 | ​ | $ | 4,781 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other information | ​ | ​ | ​ |  |  | ​ |  |  | ​
Cash paid for amounts included in the measurement of lease liabilities: | ​ | ​ |  | ​ |  |  | ​
Operating cash flows from operating leases | ​ | ​ | ​ | $ | 4,655 | ​ | $ | 4,769 | ​
Right-of-use assets obtained in exchange for new operating lease liabilities | ​ | ​ | ​ | $ | 2,044 | ​ | $ | 47 | ​
​ The Company’s minimum annual rental payments for Bank facilities due under non-cancelable leases are as follows as of June 30, 2023: ​
​ | ​ | ​ | ​
​ | ​ | Minimum Rental
​ | ​ | (In thousands)
Years ended December 31: | ​ | ​ | ​
2023 | ​ | $ | 5,218
2024 | ​ | ​ | 9,520
2025 | ​ | ​ | 8,850
2026 | ​ | ​ | 7,955
2027 | ​ | ​ | 3,865
Thereafter | ​ | ​ | 13,689
Total minimum payments required | ​ | ​ | 49,097
Less: implied interest | ​ | ​ | 4,695
Total lease obligations | ​ | $ | 44,402
​

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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