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LEASES | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
LEASES | LEASES Operating lease cost was $10.8 million, $12.3 million and $11.6 million for the years ended December 31, 2024, 2023 and 2022, respectively. For the years ended December 31, 2024, 2023 and 2022, sublease income was $715,000, $1.3 million and $683,000, respectively. Variable rent expense and short-term lease expense were not material for the years ended December 31, 2024 and 2023. The following table presents the impact of leases on the Company's consolidated balance sheets at December 31, 2024 and 2023:
|  |  | December 31,
(dollars in thousands) | Location |  | 2024 |  | 2023
Operating lease right-of-use assets | Other assets |  | $ | 45,069 |  |  | $ | 49,864 |
Operating lease liabilities | Other liabilities |  | 53,403 |  |  | 58,521 |
Future maturities of the Company's operating lease liabilities are summarized as follows:
(dollars in thousands) |  |
Year Ended December 31, |  | Lease Liability
2025 |  | $ | 10,246 |
2026 |  | 9,520 |
2027 |  | 8,535 |
2028 |  | 6,918 |
2029 |  | 5,590 |
Thereafter |  | 16,863 |
Total lease payments |  | $ | 57,672 |
Less: Interest |  | (4,269) |
Present value of lease liabilities |  | $ | 53,403 |
(dollars in thousands) | December 31,
Supplemental lease information | 2024 |  | 2023 |  | 2022
Weighted-average remaining lease term (years) | 6.9 |  | 7.6 |  | 8.1
Weighted-average discount rate | 1.92 | % |  | 1.68 | % |  | 1.46 | %
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases (cash payments) | $ | 11,378 |  |  | $ | 12,045 |  |  | $ | 12,013 |
Operating cash flows from operating leases (lease liability reduction) | $ | 11,378 |  |  | $ | 12,045 |  |  | $ | 12,064 |
Operating lease right-of-use assets obtained in exchange for leases entered into during the year | $ | 5,488 |  |  | $ | 2,827 |  |  | $ | 7,226 |

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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