LEASES

9 Months Ended

Sep. 30, 2019

The Company has operating leases for corporate offices, branches and loan production offices. The Company’s leases have remaining lease terms of one month to twenty years, some of which include options to extend the leases generally for periods of three years to five years. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The components of lease expense were as follows:



	Three Months Ended September 30,		Nine Months Ended September 30,
($ in thousands)	2019		2019
Operating Lease Expense	$	1,557	$	5,053
Variable Lease Expense	89		267
Sublease Income	—		(250		)
Total Lease Expense	$	1,646	$	5,070

Supplemental cash flow information related to leases was as follows:



	Three Months Ended September 30,		Nine Months Ended September 30,
($ in thousands)	2019		2019
Cash paid for amounts included in the measurement of lease liabilities for operating leases:
Operating cash flows	$	1,673	$	5,292
ROU assets obtained in the exchange for lease liabilities:
ROU assets obtained in exchange for lease liabilities	$	1,243	$	5,332
ROU assets recognized upon adoption of new lease standard	$	—	$	23,332

Supplemental balance sheet information related to leases was as follows:



($ in thousands)	September 30, 2019
Operating Leases:
Operating lease right-of-use assets	$	23,907
Operating lease liabilities	25,210



	September 30, 2019
Weighted-average remaining lease term (in years):
Operating leases	6.74 years
Weighted-average discount rate:
Operating leases	2.90	%

Maturities of lease liabilities at September 30, 2019 were as follows:



($ in thousands)	Operating Leases
Remainder of 2019	$	1,697
2020	6,727
2021	4,965
2022	3,387
2023	2,578
2024	1,710
Thereafter	7,046
Total lease payments	28,110
Less: present value discount	(2,900		)
Total Lease Liability	$	25,210