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Leases (Tables)
 9 Months Ended
Sep. 30, 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)ClassificationSeptember 30, 2020December 31, 2019
ASSETS
Operating lease ROU assetsOther assets$18,419 $20,232 
LIABILITIES
Operating lease liabilitiesOther liabilities$19,813 $21,358 
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)Classification2020201920202019
Operating lease cost (1)
Occupancy expenses$1,643 $1,470 $4,597 $4,400 
(1) There were no variable lease costs for the three and nine months ended September 30, 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 September 30, 2020:
(amounts in thousands)September 30, 2020
2020$2,610 
20215,134 
20224,653 
20233,759 
20242,673 
Thereafter3,026 
Total minimum payments21,855 
Less: interest2,042 
Present value of lease liabilities$19,813 
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, 2020 and December 31, 2019:
(amounts in thousands)September 30, 2020December 31, 2019
Weighted average remaining lease term (years)
Operating leases4.6 years5.0 years
Weighted average discount rate
Operating leases2.69 %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 September 30, 2020 and December 31, 2019:
(amounts in thousands)ClassificationSeptember 30, 2020December 31, 2019
ASSETS
Direct financing leases
Lease receivablesLoans and leases receivable$105,712 $91,762 
Guaranteed residual assetsLoans and leases receivable6,723 7,435 
Unguaranteed residual assetsLoans and leases receivable5,822 1,260 
Deferred initial direct costsLoans and leases receivable654 721 
Unearned incomeLoans and leases receivable(11,709)(11,300)
Net investment in direct financing leases$107,202 $89,878 
Operating leases
Investment in operating leasesOther assets$119,271 $107,850 
Accumulated depreciationOther assets(24,973)(14,251)
Deferred initial direct costsOther assets1,070 1,052 
Net investment in operating leases95,368 94,651 
Total lease assets$202,570 $184,529