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LEASES

12 Months Ended

Jun. 30, 2022

The Company leases office space under operating lease agreements scheduled to expire at various dates. Operating lease expense for the years ended June 30, 2022, 2021 and 2020 was $10.8 million, $10.6 million, and $10.5 million, respectively.

Supplemental balance sheet information related to leases as follows:


	Years End June 30,
(Dollars in thousands)	2022			2021
Operating lease right-of-use assets	$	69,196		$	64,077
Operating lease liabilities	74,878			70,119
Weighted-average remaining lease term:
Operating leases	7.53 years			8.30 years
Weighted-average discount rate:
Operating leases	2.79		%	2.90		%

Supplemental cash flow information related to leases is as follows:


	Years End June 30,
(Dollars in thousands)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities for operating leases:
Operating cash flows	$	9,888	$	8,875

Maturities of Operating Lease Liabilities. The Company leases office space under operating lease agreements scheduled to expire at various dates. The following table represents maturities of lease liabilities as of June 30, 2022:


(Dollars in thousands)
Within one year	$	10,509
After one year and within two years	10,914
After two years and within three years	11,104
After three years and within four years	10,806
After four years and within five years	10,865
After five years	29,356
Total lease payments	83,554
Less: amount representing interest	(8,676)
Total Lease Liability	$	74,878

As of June 30, 2022, the Company is in compliance with all covenants contained in lease agreements.