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Premises and Equipment | 12 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
Premises and Equipment | Premises and Equipment and Lease Commitments Year-end premises and equipment were as follows:
| 2024 |  | 2023
Land | $ | 224,290 |  |  | $ | 191,594 |
Buildings | 644,240 |  |  | 581,745 |
Technology, furniture and equipment | 281,697 |  |  | 262,666 |
Leasehold improvements | 250,572 |  |  | 230,642 |
Construction and projects in progress | 24,135 |  |  | 36,910 |
Lease right-of-use assets | 270,282 |  |  | 280,502 |
| 1,695,216 |  |  | 1,584,059 |
Less accumulated depreciation and amortization | (449,839) |  |  | (394,026) |
Total premises and equipment, net | $ | 1,245,377 |  |  | $ | 1,190,033 |
Depreciation of premises and equipment totaled $61.9 million in 2024, $60.6 million 2023 and $57.4 million in 2022. Lease Commitments. We lease certain office facilities and office equipment under operating leases. Rent expense for all operating leases totaled $49.7 million in 2024, $50.5 million in 2023 and $47.7 million in 2022. The components of total lease expense in 2024 and 2023 were as follows:
|  | 2024 |  | 2023
Amortization of lease right-of-use assets |  | $ | 35,400 |  |  | $ | 34,137 |
Short-term lease expense |  | 1,456 |  |  | 2,576 |
Non-lease components (including taxes, insurance, common maintenance, etc.) |  | 12,835 |  |  | 13,811 |
Total |  | $ | 49,691 |  |  | $ | 50,524 |
Right-of-use lease assets totaled $270.3 million and $280.5 million at December 31, 2024 and 2023, respectively, and are reported as a component of premises and equipment on our accompanying consolidated balance sheets. The related lease liabilities totaled $308.1 million and $316.4 million at December 31, 2024 and 2023, respectively, and are reported as a component of accrued interest payable and other liabilities in the accompanying consolidated balance sheets. Lease payments under operating leases that were applied to our operating lease liability totaled $33.7 million during 2024 and $32.1 million during 2023. The following table reconciles future undiscounted lease payments due under non-cancelable operating leases (those amounts subject to recognition) to the aggregate operating lessee lease liability as of December 31, 2024:
Future lease payments: |
2025 | $ | 36,953 |
2026 | 37,007 |
2027 | 35,958 |
2028 | 34,007 |
2029 | 29,795 |
Thereafter | 206,868 |
Total undiscounted operating lease liability | 380,588 |
Imputed interest | 72,535 |
Total operating lease liability included in the accompanying balance sheet | $ | 308,053 |
Weighted-average lease term in years | 12.39
Weighted-average discount rate | 3.39%
We lease certain buildings and branch facilities from various entities which are controlled by or affiliated with one of our directors. Payments related to these leases totaled $349 thousand in 2024, $337 thousand in 2023 and $327 thousand in 2022.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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