Leases (Tables)

6 Months Ended

Jun. 30, 2024

The components of lease expense were as follows:


	Affected Line Item in the Statement of Income	Three Months Ended June 30,				Six Months Ended June 30,
(dollars in thousands)		2024		2023		2024		2023
Operating lease cost	Occupancy/Equipment expense	$	8,268	$	7,469	$	16,094	$	16,107
Finance lease cost:
Amortization of right-of-use assets	Occupancy expense	1,488		737		2,239		1,428
Interest on lease liabilities	Interest expense	253		184		434		353

Sub-lease income	Occupancy expense	(123)		(102)		(248)		(162)
Total		$	9,886	$	8,288	$	18,519	$	17,726

Supplemental balance sheet information related to leases was as follows:


(dollars in thousands)	June 30, 2024			December 31, 2023
Operating Leases
Operating lease right-of-use assets	$	194,591		$	185,506
Operating lease liabilities	213,119			204,960

Finance Leases
Premises and equipment, net	32,759			19,820
Other borrowings	34,114			20,955

Weighted-Average Remaining Lease Term (in Years)
Operating leases	8.2			8.5
Finance leases	7.2			10.5

Weighted-Average Discount Rate
Operating leases	3.12		%	3.04		%
Finance leases	3.97		%	3.90		%

Supplemental cash flow information related to leases was as follows:


	Six Months Ended June 30,
(dollars in thousands)	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	16,439	$	15,752
Operating cash flows from finance leases	434		353
Financing cash flows from finance leases	2,020		1,265

The following table presents a maturity analysis of the Company’s lease liability by lease classification at June 30, 2024:


(dollars in thousands)	Operating Leases		Finance Leases
2024	$	16,861	$	4,649
2025	34,330		8,787
2026	33,583		6,048
2027	31,857		4,388
2028	27,940		2,996
Thereafter	98,385		12,611
Total undiscounted lease payments	242,956		39,479
Amounts representing interest	(29,837)		(5,365)
Lease liability	$	213,119	$	34,114