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Leases (Tables) | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Lease Liability Maturity |
December 31, 2020
(In thousands) |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | Later Years |  | Total Lease Payments |  | Less: Imputed Interest |  | Total
Operating Leases | $ | 34,322 | $ | 25,062 | $ | 22,900 | $ | 21,778 | $ | 18,870 | $ | 51,807 | $ | 174,739 | $ | (22,151) | $ | 152,588
Finance Leases |  | 3,897 |  | 3,402 |  | 3,492 |  | 3,589 |  | 3,701 |  | 8,850 |  | 26,931 |  | (4,359) |  | 22,572
Leases cost |
|  |  | Years ended December 31,
(In thousands) | 2020 | 2019
Finance lease cost: |  |  |  |
| Amortization of ROU assets | $ | 2,215 | $ | 1,701
| Interest on lease liabilities |  | 1,185 |  | 1,194
Operating lease cost |  | 31,674 |  | 30,664
Short-term lease cost |  | 214 |  | 252
Variable lease cost |  | 51 |  | 97
Sublease income |  | (113) |  | (113)
Net gain recognized from sale and leaseback transaction[1] |  | (5,550) |  | -
Impairment of operating ROU assets[2] |  | 14,805 |  | -
Impairment of finance ROU assets[2] |  | 1,115 |  | -
Total lease cost[3] | $ | 45,596 | $ | 33,795
[1] | During the quarter ended June 30, 2020, the Corporation recognized the transfer of the Caparra Center as a sale. Since the sale and partial leaseback was considered to be at fair value, no portion of the gain on sale was deferred.
[2] | Impairment loss recognized during the fourth quarter of 2020 in connection with the closure of nine branches as a result of the strategic realignment of PB’s New York Metro branch network.
[3] | Total lease cost is recognized as part of net occupancy expense, except for the net gain recognized from the sale and leaseback transaction which was included as part of other operating income.
Leases supplemental information |
|  |  |  | Years ended December 31,
(Dollars in thousands) |  | 2020 |  | 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
| Operating cash flows from operating leases[1] | $ | 41,650 | $ | 30,073
| Operating cash flows from finance leases |  | 1,185 |  | 1,200
| Financing cash flows from finance leases[1] |  | 3,145 |  | 1,726
ROU assets obtained in exchange for new lease obligations: |  |  |  |
| Operating leases[2] | $ | 14,975 | $ | 28,430
| Finance leases |  | 4,510 |  | 661
Weighted-average remaining lease term: |  |  |  |  |  |
| Operating leases |  | 8.0 | years |  | 8.7 | years
| Finance leases |  | 8.9 | years |  | 7.3 | years
Weighted-average discount rate: |  |  |  |  |  |
| Operating leases |  | 3.0 | % |  | 3.4 | %
| Finance leases |  | 5.0 | % |  | 5.9 | %
[1] | During the quarter ended December 31, 2020, the Corporation made base lease termination payments amounting to $10.2 million in connection with the closure of nine branches as a result of the strategic realignment of PB’s New York Metro branch network.
[2] | During the quarter ended June 30, 2020, the Corporation recognized a lease liability of $11.1 million and a corresponding ROU asset for the same amount as a result of the partial leaseback of the Caparra Center.

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- Definition Tabular disclosure of undiscounted cash flows of operating and finance lease liabilities. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating and finance lease liabilities recognized in statement of financial position. + References No definition available. + Details
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- Definition Tabular disclosure of cash paid for amounts included in the measurement of lease liabilities, noncash information on lease liabilities arising from obtaining ROU assets, and weighted-average remaining lease term and discount rate by lease classification. + References No definition available. + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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