XML 45 R18.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Leases | 12 Months Ended
--- | ---
Dec. 31, 2019
Leases [Abstract] |
Lessee, Operating Leases [Text Block] | Leases Lease Commitments: The Company’s lease commitments consist primarily of leased locations under various non-cancellable operating leases that expire between 2020 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 |  | December 31, 2019
|  |  |  | (in thousands)
Operating lease asset |  | Other assets |  | $ | 57,226 |
Operating lease liability |  | Other liabilities |  | $ | 63,030 |
At December 31, 2019, the Company’s operating leases have a weighted average remaining lease term of 7.7 years and a weighted average discount rate of 3.0%. Cash paid for amounts included in the measurement of operating lease liabilities was $11.2 million for the year ended December 31, 2019. Right-of-use assets obtained in exchange for new operating lease liabilities during the year ended December 31, 2019 were $20.6 million. The following table shows the components of net lease costs:
Item |  | Statement of Income Location |  | Year Ended December 31, 2019
|  |  |  | (in thousands)
Operating lease cost (1) |  | Occupancy |  | $ | 10,851 |
Variable lease cost |  | Occupancy |  | 1,805 |
Sublease income |  | Occupancy |  | (1,182 | )
Net lease cost |  |  |  | $ | 11,474 |
__________ (1) Includes short-term lease costs, which are immaterial. Total rental expense on buildings and equipment, net of rental income of $1.2 million and $791 thousand for the years ended December 31, 2018 and 2017, respectively, was $9.6 million and $7.9 million for the years ended December 31, 2018 and 2017, respectively. The following table shows the maturity analysis for operating leases as of December 31, 2019:
|  | Year ending December 31,
|  | (in thousands)
2020 |  | $ | 11,105 |
2021 |  | 11,126 |
2022 |  | 10,689 |
2023 |  | 9,476 |
2024 |  | 6,980 |
Thereafter |  | 21,866 |
Total future minimum lease payments |  | 71,242 |
Amounts representing interest |  | (8,212 | )
Present value of minimum lease payments |  | $ | 63,030 |
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 |
Sale-leaseback transactions: 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 lease term is through September 2022, with monthly payments of approximately $19 thousand. The sale-leaseback transaction resulted in a pre-tax gain of $5.9 million. For additional detail regarding the new lease guidance, see Note 1, “Summary of Significant Accounting Policies and Reclassifications.”

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration