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Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Lessee, Summary of Right-of-Use Assets and Lease Liabilities

The following table summarizes operating lease ROU assets and operating lease liabilities and their corresponding balance sheet location:

(amounts in thousands)

Classification

September 30, 2019

ASSETS

Operating lease ROU assets

Other assets

$

20,826

LIABILITIES

Operating lease liabilities

Other liabilities

$

22,002

Lease, Cost

The following table summarizes operating lease cost and its corresponding income statement location for the periods presented:

									Three Months Ended September 30,						Nine Months Ended September 30,
(amounts in thousands)			Classification						2019						2019
Operating lease cost (1)			Occupancy expenses						$	1,470					$	4,400

(1) There were no variable lease costs for the three and nine months ended September 30, 2019, and sublease income for operating leases is immaterial.

Maturities of Non-cancelable Operating Lease Liabilities

Maturities of non-cancelable operating lease liabilities were as follows at September 30, 2019:

(amounts in thousands)			September 30, 2019
2019			$	1,472
2020			5,504
2021			4,708
2022			4,079
2023			3,121
Thereafter			4,918
Total minimum payments			23,802
Less: interest			1,800
Present value of lease liabilities			$	22,002

Summary of Lease Term and Discount Rate for Operating Leases

The following table summarizes the weighted average remaining lease term and discount rate for Customers' operating leases at September 30, 2019:

(amounts in thousands)			September 30, 2019
Weighted average remaining lease term (years)
Operating leases			5.2 years
Weighted average discount rate
Operating leases			2.92		%

Schedule of Future Minimum Rental Payments for Operating Leases

Future minimum rental commitments pursuant to non-cancelable operating leases as of December 31, 2018, were as follows:

(amounts in thousands)			December 31, 2018
2019			$	5,577
2020			5,135
2021			4,513
2022			3,885
2023			2,856
Thereafter			4,699
Total minimum payments			$	26,665

Lessor, Lease Receivables and Investment in Operating Leases and their Corresponding Balance Sheet Location

The following table summarizes lease receivables and investment in operating leases and their corresponding balance sheet location at September 30, 2019:

(amounts in thousands)

Classification

September 30, 2019

ASSETS

Direct financing leases

Lease receivables

Loans and leases receivable

$

75,785

Guaranteed residual assets

Loans and leases receivable

5,673

Unguaranteed residual assets

Loans and leases receivable

1,260

Deferred initial direct costs

Loans and leases receivable

667

Unearned income

Loans and leases receivable

(7,556)

Net investment in direct financing leases

$

75,829

Operating leases

Investment in operating leases

Other assets

$

86,539

Accumulated depreciation

Other assets

(11,413)

Deferred initial direct costs

Other assets

952

Net investment in operating leases

76,078

Total lease assets

$

151,907

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- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
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Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980

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Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 2
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