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Leases (Tables)
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Components of lease costs and supplemental information related to leases

The tables below present the components of lease costs and supplemental information related to leases as of and for the periods presented.

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

 

 

(Dollars in thousands)

 

Lease Assets and Liabilities

 

 

 

 

 

 

ROU assets

 

$

19,274

 

 

$

19,112

 

Total lease liabilities

 

 

20,864

 

 

 

21,164

 

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

 

(Dollars in thousands)

 

Lease Cost

 

 

 

 

 

 

Operating lease expense (1)

 

$

6,613

 

 

$

6,558

 

Sublease income

 

 

 

 

 

 

Total lease expense

 

$

6,613

 

 

$

6,558

 

 

(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

 

$

7,081

 

 

$

7,387

 

 

 

 

December 31,

 

 

 

2020

 

 

2019

 

Lease Term and Discount Rate

 

 

 

 

 

 

Weighted average remaining lease term (years)

 

 

4.26

 

 

 

4.16

 

Weighted average discount rate

 

 

2.41

%

 

 

2.80

%

Future lease payments required for leases that have initial or remaining non-cancelable lease terms 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, 2021, excluding property taxes and insurance, are as follows:

 

 

 

December 31, 2021

 

 

 

(Dollars in thousands)

 

Year:

 

 

 

2022

 

$

6,515

 

2023

 

 

4,947

 

2024

 

 

3,795

 

2025

 

 

3,112

 

2026

 

 

2,101

 

Thereafter

 

 

1,438

 

Total future lease payments

 

 

21,908

 

Less: Imputed interest

 

 

(1,044

)

Present value of lease liabilities

 

$

20,864