XML 51 R32.htm IDEA: XBRL DOCUMENT v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases Leases
The following table represents the consolidated statements of financial condition classification of the Company’s right-of use-assets and lease liabilities as of December 31, 2025 and December 31, 2024 (in thousands):
ClassificationDecember 31, 2025December 31, 2024
Lease Right-of-Use Assets:
Operating lease right-of-use assetsOther assets$57,941 $62,258 
Lease Liabilities:
Operating lease liabilitiesOther liabilities$61,125 $65,226 
The calculated amount of the right-of-use assets and lease liabilities in the table above are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the right-of-use asset and lease liability. Regarding the discount rate, Topic 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception based upon the term of the lease. For operating leases existing prior to January 1, 2019, the rate for the remaining lease term as of January 1, 2019 was applied.
All of the leases in which the Company is the lessee are classified as operating leases and are primarily comprised of real estate property for branches and administrative offices with terms extending through 2046.
As of December 31, 2025, the weighted-average remaining lease term and the weighted-average discount rate for the Company's operating leases were 6.8 years and 3.34%, respectively.
The following table represents lease costs and other lease information for the Company's operating leases. The variable lease cost primarily represents variable payments such as common area maintenance and utilities (in thousands):
Year ended December 31, 2025
Year ended December 31, 2024
Lease Costs
Operating lease cost$14,195 13,088 
Variable lease cost4,091 3,057 
Total Lease Cost$18,286 16,145 

Cash paid for amounts included in the measurement of lease liabilities (in thousands):
Year ended December 31, 2025
Year ended December 31, 2024
Operating cash flows from operating leases$13,508 12,818 
Future minimum payments for operating leases with initial or remaining terms of one year or more as of December 31, 2025 were as follows (in thousands):
Operating Leases
Years ended:
2026$12,714 
202711,566 
202810,055 
20298,763 
20307,796 
Thereafter17,773 
Total future minimum lease payments68,667 
Amounts representing interest7,542 
Present value of net future minimum lease payments$61,125 
Leases Leases
The following table represents the consolidated statements of financial condition classification of the Company’s right-of use-assets and lease liabilities as of December 31, 2025 and December 31, 2024 (in thousands):
ClassificationDecember 31, 2025December 31, 2024
Lease Right-of-Use Assets:
Operating lease right-of-use assetsOther assets$57,941 $62,258 
Lease Liabilities:
Operating lease liabilitiesOther liabilities$61,125 $65,226 
The calculated amount of the right-of-use assets and lease liabilities in the table above are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the right-of-use asset and lease liability. Regarding the discount rate, Topic 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception based upon the term of the lease. For operating leases existing prior to January 1, 2019, the rate for the remaining lease term as of January 1, 2019 was applied.
All of the leases in which the Company is the lessee are classified as operating leases and are primarily comprised of real estate property for branches and administrative offices with terms extending through 2046.
As of December 31, 2025, the weighted-average remaining lease term and the weighted-average discount rate for the Company's operating leases were 6.8 years and 3.34%, respectively.
The following table represents lease costs and other lease information for the Company's operating leases. The variable lease cost primarily represents variable payments such as common area maintenance and utilities (in thousands):
Year ended December 31, 2025
Year ended December 31, 2024
Lease Costs
Operating lease cost$14,195 13,088 
Variable lease cost4,091 3,057 
Total Lease Cost$18,286 16,145 

Cash paid for amounts included in the measurement of lease liabilities (in thousands):
Year ended December 31, 2025
Year ended December 31, 2024
Operating cash flows from operating leases$13,508 12,818 
Future minimum payments for operating leases with initial or remaining terms of one year or more as of December 31, 2025 were as follows (in thousands):
Operating Leases
Years ended:
2026$12,714 
202711,566 
202810,055 
20298,763 
20307,796 
Thereafter17,773 
Total future minimum lease payments68,667 
Amounts representing interest7,542 
Present value of net future minimum lease payments$61,125