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Leases (Tables) | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Schedule of Information Related to Company's Leases and Lease Expense | Information related to the Company’s leases is presented below as of September 30, 2024 and December 31, 2023:
|  |  | September 30, |  | December 31,
| Classification |  | 2024 |  | 2023
Right-of-use assets: |  |  |  |  |
Operating leases | Operating lease right-of-use assets |  | $ | 47,346 |  | $ | 54,295
Finance leases | Premises and equipment, net |  | 1,173 |  | 1,256
Total right-of-use assets |  |  | $ | 48,519 |  | $ | 55,551
Lease liabilities: |  |  |  |  |
Operating leases | Operating lease liabilities |  | $ | 59,584 |  | $ | 67,643
Finance leases | Borrowings |  | 1,254 |  | 1,326
Total lease liabilities |  |  | $ | 60,838 |  | $ | 68,969
Weighted average remaining lease term (in years) - operating |  |  | 11.1 |  | 11.6
Weighted average remaining lease term (in years) - finance |  |  | 10.6 |  | 11.4
Weighted average discount rate - operating |  |  | 3.41 | % |  | 3.39 | %
Weighted average discount rate - finance |  |  | 1.76 | % |  | 1.76 | %
The components of total lease expense included in the consolidated statements of income were as follows:
|  |  | Three Months Ended |  | Nine Months Ended
|  |  | September 30, |  | September 30,
| Classification |  | 2024 |  |  | 2023 |  |  | 2024 |  |  |  | 2023 |  |  |
Operating lease costs: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use asset | Occupancy and equipment |  | $ | 1,362 |  |  | $ | 2,104 |  |  | $ | 5,048 |  |  |  | $ | 6,226 |  |  |
Short-term lease cost | Occupancy and equipment |  | 96 |  |  | 133 |  |  | 282 |  |  |  | 397 |  |  |
Variable lease cost | Occupancy and equipment |  | 321 |  |  | 238 |  |  | 1,024 |  |  |  | 862 |  |  |
Gain on lease modifications and terminations | Occupancy and equipment |  | — |  |  | — |  |  | — |  |  |  | (73) |  |  |
Finance lease costs: |  |  |  |  |  |  |  |  |  |  |  |
Interest on lease liabilities | Interest expense on borrowings |  | 6 |  |  | 6 |  |  | 17 |  |  |  | 18 |  |  |
Amortization of right-of-use asset | Occupancy and equipment |  | 28 |  |  | 28 |  |  | 83 |  |  |  | 83 |  |  |
Sublease income | Occupancy and equipment |  | (96) |  |  | (254) |  |  | (407) |  |  |  | (750) |  |  |
Total lease cost |  |  | $ | 1,717 |  |  | $ | 2,255 |  |  | $ | 6,047 |  |  |  | $ | 6,763 |  |  |
Schedule of Maturity Analysis of Operating Lease Liabilities | A maturity analysis of operating and finance lease liabilities and a reconciliation of cash flows to lease liabilities as of September 30, 2024 is as follows:
| Operating |  | Finance
| Leases |  | Lease
Lease payments due: |  |  |
September 30, 2025 | $ | 2,154 |  |  | $ | 30 |
September 30, 2026 | 8,290 |  |  | 121 |
September 30, 2027 | 8,016 |  |  | 123 |
September 30, 2028 | 7,554 |  |  | 125 |
September 30, 2029 | 6,579 |  |  | 127 |
Thereafter | 40,285 |  |  | 850 |
Total undiscounted future minimum lease payments | 72,878 |  |  | 1,376 |
Less: imputed interest | (13,294) |  |  | (122) |
Lease liabilities | $ | 59,584 |  |  | $ | 1,254 |
Schedule of Maturity of Finance Lease Liabilities | A maturity analysis of operating and finance lease liabilities and a reconciliation of cash flows to lease liabilities as of September 30, 2024 is as follows:
| Operating |  | Finance
| Leases |  | Lease
Lease payments due: |  |  |
September 30, 2025 | $ | 2,154 |  |  | $ | 30 |
September 30, 2026 | 8,290 |  |  | 121 |
September 30, 2027 | 8,016 |  |  | 123 |
September 30, 2028 | 7,554 |  |  | 125 |
September 30, 2029 | 6,579 |  |  | 127 |
Thereafter | 40,285 |  |  | 850 |
Total undiscounted future minimum lease payments | 72,878 |  |  | 1,376 |
Less: imputed interest | (13,294) |  |  | (122) |
Lease liabilities | $ | 59,584 |  |  | $ | 1,254 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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