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Leases | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Leases |
NOTE 18 - LEASES
The Corporation has operating leases for certain financial centers, corporate offices and land. The following table presents the components of lease expense, which is included in net occupancy expense on the consolidated statements of income (dollars in thousands):
|  | 2023 |  | 2022 |  | 2021
Operating lease expense | $ | 19,372 |  |  | $ | 17,766 |  |  | $ | 16,345 |
Variable lease expense | 3,160 |  |  | 3,017 |  |  | 1,384
Sublease income | (1,111) |  |  | (964) |  |  | (860) |
Total lease expense | $ | 21,421 |  |  | $ | 19,819 |  |  | $ | 16,869 |
Supplemental consolidated balance sheet information related to leases was as follows as of December 31 (dollars in thousands):
Operating Leases |  | Balance Sheet Classification |  | 2023 |  | 2022
ROU assets |  | Other assets |  | $ | 88,188 |  |  | $ | 85,103 |
Lease liabilities |  | Other liabilities |  | $ | 95,230 |  |  | $ | 93,883 |
Weighted average remaining lease term |  |  |  | 6.48 years |  | 6.75 years
Weighted average discount rate |  |  |  | 3.34 | % |  | 2.89 | %
The discount rate used in determining the lease liability for each individual lease is the FHLB fixed advance rate which corresponds with the remaining lease term. Supplemental cash flow information related to operating leases was as follows (dollars in thousands):
| 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities | $ | 20,898 |  |  | $ | 19,405 |
ROU assets obtained in exchange for lease obligations | 20,184 |  |  | 18,715 |
Lease payment obligations for each of the next five years and thereafter, with a reconciliation to the Corporation's lease liability were as follows (dollars in thousands):
Year | Operating Leases
2024 | $ | 20,391 |
2025 | 18,299 |
2026 | 16,603 |
2027 | 14,204 |
2028 | 11,022 |
Thereafter | 25,948 |
Total lease payments | 106,467 |
Less: imputed interest | (11,237) |
Present value of lease liabilities | $ | 95,230 |
As of December 31, 2023, the Corporation had not entered into any significant leases that have not yet commenced.

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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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