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Leases (Tables)

9 Months Ended

Sep. 30, 2024

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.


						September 30, 2024				December 31, 2023
						(Dollars in thousands)
Lease Assets and Liabilities
ROU assets						$	32,516			$	21,655
Total lease liabilities							34,943				24,056


		Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
		(Dollars in thousands)
Lease Cost
Operating lease expense (1)		$	1,965			$	1,832			$	5,650			$	5,513
Sublease income			—				—				—				—
Total lease expense		$	1,965			$	1,832			$	5,650			$	5,513

(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		$	1,948			$	1,682			$	5,726			$	4,951


						September 30, 2024				December 31, 2023
Lease Term and Discount Rate
Weighted average remaining lease term (years)							7.83				3.94
Weighted average discount rate							5.26	%			3.48	%

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 September 30, 2024, excluding property taxes and insurance, are as follows:


		September 30, 2024
		(Dollars in thousands)
Year:
2024 (excluding the nine months ended September 30, 2024)		$	2,064
2025			8,524
2026			7,438
2027			6,003
2028			4,180
Thereafter			16,988
Total future lease payments			45,197
Less: Imputed interest			(10,254	)
Present value of lease liabilities		$	34,943