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Leases (Tables)
12 Months Ended
Dec. 31, 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.

 

December 31,

 

 

2024

 

 

2023

 

 

(Dollars in thousands)

 

Lease Assets and Liabilities

 

 

 

 

 

 

ROU assets

 

$

47,117

 

 

$

21,655

 

Total lease liabilities

 

 

49,617

 

 

 

24,056

 

 

 

Year Ended December 31,

 

 

2024

 

 

2023

 

 

(Dollars in thousands)

 

Lease Cost

 

 

 

 

 

 

Operating lease expense (1)

 

$

8,109

 

 

$

7,350

 

Sublease income

 

 

 

 

 

 

Total lease expense

 

$

8,109

 

 

$

7,350

 

 

(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

 

$

8,094

 

 

$

6,642

 

 

 

December 31,

 

 

2024

 

 

2023

 

Lease Term and Discount Rate

 

 

 

 

 

 

Weighted average remaining lease term
   (years)

 

 

9.99

 

 

 

3.94

 

Weighted average discount rate

 

 

5.95

%

 

 

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 December 31, 2024, excluding property taxes and insurance, are as follows:

 

December 31, 2024

 

 

(Dollars in thousands)

 

Year:

 

 

 

2025

 

$

10,114

 

2026

 

 

9,080

 

2027

 

 

7,679

 

2028

 

 

5,892

 

2029

 

 

4,205

 

Thereafter

 

 

32,670

 

Total future lease payments

 

 

69,640

 

Less: Imputed interest

 

 

(20,023

)

Present value of lease liabilities

 

$

49,617