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Leases | 12 Months Ended
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Dec. 31, 2020
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 2021 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:
|  |  |  | December 31,
Item |  | Balance Sheet Location |  | 2020 |  | 2019
|  |  |  | (in thousands)
Operating lease asset |  | Other assets |  | $ | 61,863 |  |  | $ | 57,226 |
Operating lease liability |  | Other liabilities |  | $ | 67,503 |  |  | $ | 63,030 |
At December 31, 2020, the Company’s operating leases have a weighted average remaining lease term of 8.2 years and a weighted average discount rate of 2.6%. Cash paid for amounts included in the measurement of operating lease liabilities was $11.2 million for both the years ended December 31, 2020 and 2019. Right-of-use assets obtained in exchange for new operating lease liabilities during the years ended December 31, 2020 and 2019 were $13.9 million and $20.6 million, respectively. The following table shows the components of net lease costs:
|  |  |  | Years Ended December 31,
Item |  | Statement of Income Location |  | 2020 |  | 2019
|  |  |  | (in thousands)
Operating lease cost (1) |  | Occupancy |  | $ | 11,073 |  |  | $ | 10,851 |
Variable lease cost |  | Occupancy |  | 1,732 |  |  | 1,805 |
Sublease income |  | Occupancy |  | (1,454) |  |  | (1,182) |
Net lease cost |  | $ | 11,351 |  |  | $ | 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 was $9.6 million for the year ended December 31, 2018. The following table shows the maturity analysis for operating leases as of December 31, 2020:
|  | Year ending December 31,
|  | (in thousands)
2021 |  | $ | 11,224 |
2022 |  | 10,860 |
2023 |  | 9,612 |
2024 |  | 8,689 |
2025 |  | 7,423 |
Thereafter |  | 27,354 |
Total future minimum lease payments |  | 75,162 |
Amounts representing interest |  | (7,659) |
Present value of minimum lease payments |  | $ | 67,503 |
Sale-leaseback transactions: In 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 in the year ended December 31, 2019. For additional detail regarding the lease guidance, see Note 1, “Summary of Significant Accounting Policies and Reclassifications.”

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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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