Leases (Tables)

9 Months Ended

Sep. 30, 2024

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)		2024		2023		2024		2023
Operating lease cost	Occupancy/Equipment expense	$	8,258	$	7,462	$	24,352	$	23,569
Finance lease cost:
Amortization of right-of-use assets	Occupancy expense	2,188		742		4,427		2,170
Interest on lease liabilities	Interest expense	318		183		752		536

Sub-lease income	Occupancy expense	(110)		(119)		(358)		(281)
Total		$	10,654	$	8,268	$	29,173	$	25,994

Supplemental balance sheet information related to leases was as follows:


(dollars in thousands)	September 30, 2024			December 31, 2023
Operating Leases
Operating lease right-of-use assets	$	188,533		$	185,506
Operating lease liabilities	206,863			204,960

Finance Leases
Premises and equipment, net	32,096			19,820
Other borrowings	33,598			20,955

Weighted-Average Remaining Lease Term (in Years)
Operating leases	8.0			8.5
Finance leases	7.0			10.5

Weighted-Average Discount Rate
Operating leases	3.13		%	3.04		%
Finance leases	3.98		%	3.90		%

Supplemental cash flow information related to leases was as follows:


	Nine Months Ended September 30,
(dollars in thousands)	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	24,849	$	23,766
Operating cash flows from finance leases	752		536
Financing cash flows from finance leases	4,061		1,893

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


(dollars in thousands)	Operating Leases		Finance Leases
2024	$	8,418	$	2,432
2025	34,407		9,215
2026	33,720		6,477
2027	31,985		4,816
2028	28,028		3,210
Thereafter	98,614		12,612
Total undiscounted lease payments	235,172		38,762
Amounts representing interest	(28,309)		(5,164)
Lease liability	$	206,863	$	33,598