Leases (Tables)

9 Months Ended

Sep. 30, 2023

The components of lease expense were as follows:


	Affected Line Item in the Statement of Income	Three Months Ended September 30,				Nine Months Ended September 30,
(dollars in thousands)		2023		2022		2023		2022
Operating lease cost	Occupancy/Equipment expense	$	7,462	$	7,657	$	23,569	$	21,323
Finance lease cost:
Amortization of right-of-use assets	Occupancy expense	742		680		2,170		2,003
Interest on lease liabilities	Interest expense	183		105		536		315

Sub-lease income	Occupancy expense	(119)		(87)		(281)		(389)
Total		$	8,268	$	8,355	$	25,994	$	23,252

Supplemental balance sheet information related to leases was as follows:


(dollars in thousands)	September 30, 2023			December 31, 2022
Operating Leases
Operating lease right-of-use assets	$	179,284		$	189,714
Operating lease liabilities	199,937			211,964

Finance Leases
Premises and equipment, net	20,571			10,799
Other borrowings	21,595			13,469

Weighted-Average Remaining Lease Term (in Years)
Operating leases	8.5			9.1
Finance leases	10.6			7.2

Weighted-Average Discount Rate
Operating leases	2.93		%	2.88		%
Finance leases	3.89		%	3.30		%

Supplemental cash flow information related to leases was as follows:


	Nine Months Ended September 30,
(dollars in thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	23,766	$	22,223
Operating cash flows from finance leases	536		315
Financing cash flows from finance leases	1,893		1,839

The following table presents a maturity analysis of the Company’s lease liability by lease classification at September 30, 2023:


(dollars in thousands)	Operating Leases		Finance Leases
2023	$	7,959	$	826
2024	31,183		3,357
2025	29,564		3,380
2026	28,622		2,154
2027	27,662		2,157
Thereafter	102,282		14,809
Total undiscounted lease payments	227,272		26,683
Amounts representing interest	(27,335)		(5,088)
Lease liability	$	199,937	$	21,595