Leases (Tables)

3 Months Ended

Mar. 31, 2024

The components of lease expense were as follows:


	Affected Line Item in the Statement of Income	Three Months Ended March 31,
(dollars in thousands)			2024		2023
Operating lease cost	Occupancy/Equipment expense		$	7,826	$	8,638
Finance lease cost:
Amortization of right-of-use assets	Occupancy expense		751		691
Interest on lease liabilities	Interest expense		181		169

Sub-lease income	Occupancy expense		(125)		(60)
Total			$	8,633	$	9,438

Supplemental balance sheet information related to leases was as follows:


(dollars in thousands)	March 31, 2024			December 31, 2023
Operating Leases
Operating lease right-of-use assets	$	189,593		$	185,506
Operating lease liabilities	208,868			204,960

Finance Leases
Premises and equipment, net	18,877			19,820
Other borrowings	20,108			20,955

Weighted-Average Remaining Lease Term (in Years)
Operating leases	8.4			8.5
Finance leases	10.3			10.5

Weighted-Average Discount Rate
Operating leases	3.05		%	3.04		%
Finance leases	3.91		%	3.90		%

Supplemental cash flow information related to leases was as follows:


	Three Months Ended March 31,
(dollars in thousands)	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8,005	$	7,932
Operating cash flows from finance leases	181		169
Financing cash flows from finance leases	655		628

The following table presents a maturity analysis of the Company’s lease liability by lease classification at March 31, 2024:


(dollars in thousands)	Operating Leases		Finance Leases
2024	$	23,964	$	2,520
2025	32,022		3,377
2026	31,257		2,151
2027	30,266		2,152
2028	26,608		2,050
Thereafter	94,333		12,451
Total undiscounted lease payments	238,450		24,701
Amounts representing interest	(29,582)		(4,593)
Lease liability	$	208,868	$	20,108