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Leases (Tables) | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Activity Related to the Company's Leases | The following is a summary of lease right-of-use assets and lease liabilities related to operating leases as of December 31, 2022 and 2021:
|  | December 31,
|  | 2022 |  | 2021
|  | (in thousands)
Operating lease right-of-use assets |  | $ | 24,933 |  |  | $ | 20,496 |
Operating lease liabilities |  | $ | 27,943 |  |  | $ | 24,331 |
Activity related to the Company’s leases for the years ended December 31, 2022, 2021 and 2020 is as follows:
|  | Year Ended
|  | December 31,
|  | 2022 |  | 2021 |  | 2020
|  | (in thousands)
Operating lease expense included as a component of occupancy expense on the accompanying consolidated statements of income |  | $ | 10,842 |  |  | $ | 10,624 |  |  | $ | 10,439 |
Cash paid for amounts included in the measurement of operating lease liability |  | $ | 11,940 |  |  | $ | 11,736 |  |  | $ | 12,060 |
At December 31, 2022 and 2021, the weighted average borrowing rate and weighted average remaining lease term are as follows:
|  | December 31,
|  | 2022 |  | 2021
Weighted average borrowing rate |  | 2.9 | % |  | 2.8 | %
Weighted average remaining lease term (years) |  | 3.3 |  | 4.4
Schedule of Maturity of Lease Liabilities and Future Minimum Lease Payments | The following table presents the future minimum lease payments and the maturity of lease liabilities as of December 31, 2022:
|  | Amount
|  | (in thousands)
2023 |  | $ | 11,913 |
2024 |  | 8,124 |
2025 |  | 3,508 |
2026 |  | 2,833 |
2027 |  | 2,841 |
Thereafter |  | 152 |
Total future lease payments |  | 29,371 |
Less imputed interest |  | (1,428) |
Lease liability |  | $ | 27,943 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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