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Leases | 3 Months Ended
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Mar. 31, 2025
Leases |
Leases | 7. Leases The Company has 32 operating leases for branches (including headquarters) and office spaces, one operating lease for a vehicle, and one operating lease for equipment. Our leases have remaining lease terms ranging from ten months to approximately 11 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 three agreements in 2025 and two agreements in 2024 that qualified as short-term leases. ​ Certain leases have escalation clauses for operating expenses and real estate taxes, which are recorded as variable lease cost. The Company’s non-cancelable operating lease agreements expire through 2036. ​ Supplemental balance sheet information related to leases are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) | ​ | March 31, 2025 | ​ | December 31, 2024
​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease ROU assets | ​ | $ | 43,870 | ​ | $ | 45,800
​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease liabilities | ​ | $ | 44,385 | ​ | $ | 46,443
​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average remaining lease term-operating leases | ​ | ​ | 7.2 years | ​ | ​ | 7.3 years
Weighted average discount rate-operating leases | ​ | ​ | 4.0% | ​ | ​ | 4.0%
​ The components of lease expense and cash flow information related to leases were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | For the three months ended March 31,
(In thousands) | ​ | Line Item Presented | ​ | 2025 | ​ | 2024
Lease Cost | ​ | ​ | ​ |  |  | ​ |  |
Operating lease cost | ​ | Occupancy and equipment | ​ | $ | 2,319 | ​ | $ | 2,236
Operating lease cost | ​ | Other operating expenses | ​ | ​ | 5 | ​ | ​ | 19
Short-term lease cost | ​ | Professional services, Occupancy and equipment and other operating expenses | ​ |  | 43 | ​ |  | 42
Variable lease cost | ​ | Occupancy and equipment | ​ |  | 325 | ​ |  | 270
Total lease cost | ​ | ​ | ​ | $ | 2,692 | ​ | $ | 2,567
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other information | ​ | ​ | ​ |  | ​ | ​ | ​ | ​
Cash paid for amounts included in the measurement of lease liabilities: | ​ |  | ​ | ​ | ​ | ​
Operating cash flows from operating leases | ​ | ​ | ​ | $ | 2,511 | ​ | $ | 2,452
Right-of-use assets obtained in exchange for new operating lease liabilities | ​ | $ | — | ​ | $ | —
​ ​ ​ The Company’s minimum annual rental payments for Bank facilities due under non-cancelable leases are as follows as of March 31, 2025: ​ ​
​ | ​ | ​ | ​
​ | ​ | Minimum Rental
​ | ​ | (In thousands)
Years ended December 31: | ​ | ​ | ​
2025 | ​ | $ | 6,381
2026 | ​ | ​ | 9,808
2027 | ​ | ​ | 6,158
2028 | ​ | ​ | 5,928
2029 | ​ | ​ | 4,627
Thereafter | ​ | ​ | 19,419
Total minimum payments required | ​ | ​ | 52,321
Less: implied interest | ​ | ​ | (7,936)
Total lease obligations | ​ | $ | 44,385
​

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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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