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Leases (Tables)
 3 Months Ended
Mar. 31, 2021
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, 2021December 31, 2020
ASSETS
Operating lease ROU assets (1)
Other assets$15,442 $16,578 
LIABILITIES
Operating lease liabilities (1)
Other liabilities$16,829 $18,005 
(1) Excludes operating leases of BMT included in assets and liabilities of discontinued operations.
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)Classification20212020
Operating lease cost (1)(2)
Occupancy expenses$1,117 $1,205 
(1) There were no variable lease costs for the three months ended March 31, 2021 and 2020, and sublease income for operating leases is immaterial.
(2) Excludes operating lease costs of BMT included in loss from discontinued operations in the consolidated statement of income.
Maturities of Non-cancelable Operating Lease Liabilities
Maturities of non-cancelable operating lease liabilities were as follows at March 31, 2021:
(amounts in thousands)March 31, 2021
2021$3,477 
20224,509 
20234,031 
20242,957 
20251,887 
Thereafter1,465 
Total minimum payments18,326 
Less: interest1,497 
Present value of lease liabilities$16,829 
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, 2021 and December 31, 2020:
(amounts in thousands)March 31, 2021December 31, 2020
Weighted average remaining lease term (years)
Operating leases (1)
4.5 years4.7 years
Weighted average discount rate
Operating leases (1)
2.89 %2.90 %
(1) Excludes operating leases of BMT included in assets and liabilities of discontinued operations.
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, 2021 and December 31, 2020:
(amounts in thousands)ClassificationMarch 31, 2021December 31, 2020
ASSETS
Direct financing leases
Lease receivablesLoans and leases receivable$104,230 $104,982 
Guaranteed residual assetsLoans and leases receivable9,452 12,988 
Unguaranteed residual assetsLoans and leases receivable3,807 1,229 
Deferred initial direct costsLoans and leases receivable528 560 
Unearned incomeLoans and leases receivable(10,433)(11,175)
Net investment in direct financing leases$107,584 $108,584 
Operating leases
Investment in operating leasesOther assets$136,754 $131,791 
Accumulated depreciationOther assets(33,204)(28,919)
Deferred initial direct costsOther assets1,113 996 
Net investment in operating leases104,663 103,868 
Total lease assets$212,247 $212,452