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Leases | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Leases |
23. | LEASES
The Company’s operating leases, where the Company is a lessee, include real estate, such as office space and banking centers. Lease expense for operating leases is recognized on a straight-line basis over the term of the lease and is reflected in the consolidated statement of earnings. Right-of-use (“ROU”) assets and lease liabilities are included in other assets and other liabilities, respectively, on the Company’s condensed consolidated balance sheet. While the Company has, as a lessor, certain equipment finance leases, such leases are not material to the Company’s consolidated financial statements. The tables below present the components of lease costs and supplemental information related to leases as of and for the periods presented.
|  | December 31, |
|  | 2020 |  |  | 2019 |
|  | (Dollars in thousands) |
Lease Assets and Liabilities |  |  |  |  |  |  |  |
ROU assets |  | $ | 19,112 |  |  | $ | 18,522 |
Total lease liabilities |  |  | 21,164 |  |  |  | 21,392 |
|  | Year Ended December 31, |  |
|  | 2020 |  |  |  | 2019 |  |
|  | (Dollars in thousands) |  |
Lease Cost |  |  |  |  |  |  |  |  |  |
Operating lease expense (1) |  | $ | 6,558 |  |  |  | $ | 7,274 |  |
Sublease income |  |  | — |  |  |  |  | — |  |
Total lease expense |  | $ | 6,558 |  |  |  | $ | 7,274 |  |
(1)   Includes short-term leases and variable lease costs, which are immaterial.
Other Information |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash outflows from operating leases, net |  | $ | 7,387 |  |  | $ | 8,497 |
|  | December 31, |
|  | 2020 |  |  | 2019 |
Lease Term and Discount Rate |  |  |  |  |  |  |  |
Weighted average remaining lease term (years) |  |  | 4.16 |  |  |  | 4.18 |
Weighted average discount rate |  |  | 2.80 | % |  |  | 3.34 | %
The Company’s lease arrangements that have not yet commenced as of December 31, 2020 and the Company’s short-term lease costs and variable lease costs, for the year ended December 31, 2020 are not material to the consolidated financial statements. The future lease payments required for leases that have initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2020, excluding property taxes and insurance, are as follows:
|  | December 31, 2020 |
|  | (Dollars in thousands) |
Year: |  |  |  |
2021 |  | $ | 6,800 |
2022 |  |  | 5,622 |
2023 |  |  | 3,767 |
2024 |  |  | 2,584 |
2025 |  |  | 1,888 |
Thereafter |  |  | 1,721 |
Total future lease payments |  |  | 22,382 |
Less: Imputed interest |  |  | (1,218 | )
Present value of lease liabilities |  | $ | 21,164 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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