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Leases | 3 Months Ended
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Mar. 31, 2019
Leases [Abstract] |
Leases | 14. LEASES Effective January 1, 2019, the Company adopted ASU 2016-02 and ASU 2018-11 which outline new guidance on the accounting for leases. The Company enters into lease agreements for real estate that is primarily used for office space in the ordinary course of business. These leases are accounted for as operating leases, whereby lease expense is recognized on a straight-line basis over the term of the lease. Most leases include an option to extend or renew the lease term. The exercise of the renewal is at the Company's discretion. The operating lease liability includes lease payments related to options to extend or renew the lease term if the Company is reasonably certain of exercise those options. The Company, in determining the present value of lease payments utilizes either the rate implicit in the lease if that rate is readily determinable or the Company's incremental secured borrowing rate commensurate with terms of the underlying lease. Supplemental information related to operating leases is as follows for the periods indicated:
|  | Three Months Ended |
(Dollars in thousands) |  | March 31, |
Lease expense incurred: |  | 2019 |
Operating lease cost |  | $ | 5,187 |
|  | At March 31, |
(Dollars in thousands) |  | 2019 |
Operating lease right of use assets |  | $ | 66,430 |
Operating lease liabilities |  |  | 73,529 |
|  | Three Months Ended |
|  | March 31, |
(Dollars in thousands) |  | 2019 |
Operating cash flows from operating leases |  | $ | 4,431 |
| At March 31,
| 2019
Weighted average remaining operating lease term | 5.5 years
Weighted average discount rate on operating leases | 4.48%
Maturities of the existing lease liabilities are expected to occur as follows:
(Dollars in thousands) |  |  |
Remainder of 2019 |  | $ | 14,326 |
2020 |  |  | 18,365 |
2021 |  |  | 9,469 |
2022 |  |  | 9,180 |
2023 |  |  | 8,919 |
2024 |  |  | 8,619 |
Thereafter |  |  | 18,297 |
Undiscounted lease payments |  |  | 87,175 |
Less: present value adjustment |  |  | 13,646 |
Total operating lease liability |  | $ | 73,529 |
The amount of operating lease liabilities is not separately presented in the consolidated financial statements but is included in other liabilities. Disclosures regarding minimum lease payments under previous lease accounting guidance can be found in the Company's 2018 Form 10-K.

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