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Leases | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Lessee, Operating Leases [Text Block] | Leases The Company’s lease commitments consist primarily of leased locations under various non-cancellable operating leases that expire between 2019 and 2043. The majority of the leases contain renewal options and provisions for increases in rental rates based on an agreed upon index or predetermined escalation schedule. The following table shows the details of the Company’s operating lease right-of-use asset and the associated lease liability for the period indicated:
Item |  | Balance Sheet Location |  | September 30, 2019
|  |  |  | (in thousands)
Operating lease asset |  | Other assets |  | $ | 51,295 |
Operating lease liability |  | Other liabilities |  | $ | 57,196 |
At September 30, 2019, the Company’s operating leases have a weighted-average remaining lease term of 7.5 years and a weighted average discount rate of 3.1%. Cash paid for amounts included in the measurement of operating lease liabilities was $2.8 million for the nine months ended September 30, 2019. Right-of-use assets obtained in exchange for new operating lease liabilities during the nine months ended September 30, 2019 was $9.2 million. On September 26, 2019 the Company sold one of its Washington facilities and leased back a portion of the facility utilized for branch operations. The resulting gain on the sale was $5.9 million. The following table shows the components of net lease costs:
|  |  |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Item |  | Statement of Income Location |  | 2019 |  | 2019
|  |  |  | (in thousands)
Operating lease cost (1) |  | Occupancy |  | $ | 2,700 |  |  | $ | 8,285 |
Variable lease cost |  | Occupancy |  | 487 |  |  | 1,510 |
Sublease income |  | Occupancy |  | (297 | ) |  | (918 | )
Net lease cost |  |  |  | $ | 2,890 |  |  | $ | 8,877 |
__________ (1) Includes short-term lease costs, which are immaterial. The following table shows future minimum payments for operating leases for the remaining three months of 2019 and subsequent years:
|  | Year ending December 31,
|  | (in thousands)
2019 |  | $ | 2,717 |
2020 |  | 10,619 |
2021 |  | 10,376 |
2022 |  | 9,795 |
2023 |  | 8,546 |
Thereafter |  | 22,685 |
Total future minimum lease payments |  | 64,738 |
Amounts representing interest |  | (7,542 | )
Present value of minimum lease payments |  | $ | 57,196 |
Future minimum lease payments for the Company’s operating leases as of December 31, 2018, prior to the adoption of the new lease guidance were as follows:
|  | Year Ending December 31,
|  | (in thousands)
2019 |  | $ | 10,947 |
2020 |  | 9,766 |
2021 |  | 8,729 |
2022 |  | 8,102 |
2023 |  | 6,796 |
Thereafter |  | 18,703 |
Total minimum payments |  | $ | 63,043 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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