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Lease Commitments | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Lease Commitments | Note 11 - Lease Commitments The Company is the lessee in various noncancellable operating leases for land, buildings, and equipment. Certain leases contain provisions for variable lease payments that are linked to the consumer price index. Lease cost consists of:
|  | For the Year Ended December 31,
(In thousands) |  | 2024 |  | 2023 |  | 2022
Operating lease cost |  | $ | 10,622 |  |  | $ | 10,667 |  |  | $ | 8,111 |
Variable lease cost |  | 3,023 |  |  | 2,827 |  |  | 1,599 |
Short-term lease cost |  | 556 |  |  | 919 |  |  | 427 |
Sublease income |  | (574) |  |  | (639) |  |  | (704) |
Total lease cost |  | $ | 13,627 |  |  | $ | 13,774 |  |  | $ | 9,433 |
The following table provides supplemental information related to leases:
|  | As of and For the Year Ended December 31,
(In thousands, except for weighted-average data) |  | 2024 |  | 2023
Operating lease right-of-use assets |  | $ | 40,935 |  | $ | 46,772
Operating lease liabilities |  | 44,717 |  | 50,545
Cash paid during the year for amounts included in the measurement of operating lease liabilities |  | 10,600 |  | 10,005
Right-of-use assets recorded during the year in exchange for new or renewed operating lease obligations |  | 2,815 |  | 4,139
Right-of-use assets obtained during the year through bank acquisition |  | — |  | 3,909
Weighted-average remaining lease term for operating leases |  | 6.4 years |  | 7.0 years
Weighted-average discount rate for operating leases |  | 5.10 | % |  | 4.94 | %
The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If, at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company includes the extended term in the calculation of the lease liability. Maturities of lease liabilities as of December 31, 2024 are as follows:
(In thousands) |  | Payments Due
2025 |  | $ | 10,211 |
2026 |  | 9,023 |
2027 |  | 8,003 |
2028 |  | 6,961 |
2029 |  | 4,727 |
Thereafter |  | 12,311 |
Total undiscounted cash flows |  | 51,236 |
Less: Net present value adjustment |  | (6,519) |
Total |  | $ | 44,717 |

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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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