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Operating Leases | 12 Months Ended
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Dec. 31, 2019
Leases [Abstract] |
Operating Leases | Note 6. Operating Leases Effective January 1, 2019, the Company adopted the amended provisions of Financial Accounting Standards Codification Topic 842, “Leases,” using the modified retrospective approach, impacting the reporting and disclosures for operating leases. The core principle of Topic 842 is that a lessee should recognize in the statement of financial position a liability representing the present value of future lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset over the lease term, as well as the disclosure of key information about operating leasing arrangements. Refer to Note 1 – Summary of Significant Accounting Policies for a description of the Company’s policy and transition elections. The Company has operating leases on a number of its branches, certain regional headquarters and other properties to limit its exposure to ownership risks such as fluctuations in real estate prices and obsolescence. The Company leases real estate with lease terms generally from five to 20 years, some of which have renewal options from one to 20 years. As these extension options are not generally considered reasonably certain of renewal, they are not included in the lease term. The Company is not a lessee in any contracts classified as finance leases. The following tables present supplemental information pertaining to operating leases at and for the year ended December 31, 2019.
(dollars in thousands) |  | Year Ended December 31, 2019 |
Cash paid for amounts included in the measurement of lease liabilities for operating leases |  | $ | 16,027 |
Right of use assets obtained in exchange for lease liabilities |  |  | 121,066 |
|  | December 31, 2019 |
Weighted average remaining lease term (in years) |  |  | 12.95 |
Weighted average discount rate |  |  | 3.53 | %
The following table sets forth the maturities of the Company’s lease liabilities and the present value discount at December 31, 2019.
(dollars in thousands) |  |  |  |
2019 |  | $ | 16,382 |
2020 |  |  | 15,947 |
2021 |  |  | 15,551 |
2022 |  |  | 13,973 |
2023 |  |  | 11,877 |
Thereafter |  |  | 89,677 |
Total |  |  | 163,407 |
Present value discount |  |  | (35,704 | )
Lease liability |  | $ | 127,703 |
The following table sets forth the components of the Company’s lease expense for the year ended December 31, 2019.
(in thousands) |  | December 31, 2019 |
Operating lease expense |  | $ | 18,075 |
Short-term lease expense |  |  | 462 |
Variable lease expense |  |  | 46 |
Sublease income |  |  | (322 | )
Total |  | $ | 18,261 |
The Company elected the optional transition method to not restate prior periods. Rental expense under ASC 840 approximated $18.2 million and $17.0 million for the years ended December 31, 2018 and 2017, respectively.

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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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