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Leases (Tables)
 3 Months Ended
Mar. 31, 2020
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)ClassificationMarch 31, 2020December 31, 2019
ASSETS
Operating lease ROU assetsOther assets$19,323  $20,232  
LIABILITIES
Operating lease liabilitiesOther liabilities$20,483  $21,358  
Lease, Cost
The following table summarizes operating lease cost and its corresponding income statement location for the periods presented:
Three Months Ended March 31,
(amounts in thousands)Classification20202019
Operating lease cost (1)
Occupancy expenses$1,480  $1,469  
(1) There were no variable lease costs for the three months ended March 31, 2020 and 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 March 31, 2020:
(amounts in thousands)March 31, 2020
2020$4,164  
20214,914  
20224,292  
20233,303  
20242,233  
Thereafter2,840  
Total minimum payments21,746  
Less: interest1,263  
Present value of lease liabilities$20,483  
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 March 31, 2020 and December 31, 2019:
(amounts in thousands)March 31, 2020December 31, 2019
Weighted average remaining lease term (years)
Operating leases4.9 years5.0 years
Weighted average discount rate
Operating leases2.89 %2.90 %
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 March 31, 2020 and December 31, 2019:
(amounts in thousands)ClassificationMarch 31, 2020December 31, 2019
ASSETS
Direct financing leases
Lease receivablesLoans and leases receivable$98,031  $91,762  
Guaranteed residual assetsLoans and leases receivable7,440  7,435  
Unguaranteed residual assetsLoans and leases receivable3,283  1,260  
Deferred initial direct costsLoans and leases receivable664  721  
Unearned incomeLoans and leases receivable(12,164) (11,300) 
Net investment in direct financing leases$97,254  $89,878  
Operating leases
Investment in operating leasesOther assets$114,223  $107,850  
Accumulated depreciationOther assets(17,667) (14,251) 
Deferred initial direct costsOther assets1,088  1,052  
Net investment in operating leases97,644  94,651  
Total lease assets$194,898  $184,529  
Schedule of Concessions Granted to Lessors
The table below summarizes the concessions which Customers granted to lessees as a result of the business impact of the COVID-19 pandemic and their financial effect as of and for the three months ended March 31, 2020:


As of March 31, 2020
(dollars in thousands)Number of ContractsPrincipal Balance
Payment forgiveness—  $—  
Payment deferral12382  
Total12$382