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Leases (Tables)
 9 Months Ended
Sep. 30, 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)ClassificationSeptember 30, 2021December 31, 2020
ASSETS
Operating lease ROU assets (1)
Other assets$14,598 $16,578 
LIABILITIES
Operating lease liabilities (1)
Other liabilities$15,818 $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 September 30,Nine Months Ended September 30,
(amounts in thousands)Classification2021202020212020
Operating lease cost (1)(2)
Occupancy expenses$1,147 $1,657 $3,394 $4,060 
(1) There were no variable lease costs for the three and nine months ended September 30, 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 September 30, 2021:
(amounts in thousands)September 30, 2021
2021$1,375 
20225,060 
20234,208 
20243,177 
20252,047 
Thereafter1,424 
Total minimum payments17,291 
Less: interest1,473 
Present value of lease liabilities$15,818 
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, 2021 and December 31, 2020:
(amounts in thousands)September 30, 2021December 31, 2020
Weighted average remaining lease term (years)
Operating leases (1)
4.0 years4.7 years
Weighted average discount rate
Operating leases (1)
2.65 %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 September 30, 2021 and December 31, 2020:
(amounts in thousands)ClassificationSeptember 30, 2021December 31, 2020
ASSETS
Direct financing leases
Lease receivablesLoans and leases receivable$126,311 $104,982 
Guaranteed residual assetsLoans and leases receivable11,609 12,988 
Unguaranteed residual assetsLoans and leases receivable5,366 1,229 
Deferred initial direct costsLoans and leases receivable441 560 
Unearned incomeLoans and leases receivable(7,439)(11,175)
Net investment in direct financing leases$136,288 $108,584 
Operating leases
Investment in operating leasesOther assets$142,488 $131,791 
Accumulated depreciationOther assets(36,123)(28,919)
Deferred initial direct costsOther assets937 996 
Net investment in operating leases107,302 103,868 
Total lease assets$243,590 $212,452