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LEASES (Tables)

6 Months Ended

Jun. 30, 2024

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						June 30, 2024						December 31, 2023
ASSETS
Operating lease ROU assets			Other assets						$	17,317					$	15,644
LIABILITIES
Operating lease liabilities			Other liabilities						$	19,052					$	18,048

Lease, Cost

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

									Three Months Ended June 30,												Six Months Ended June 30,
(amounts in thousands)			Classification						2024						2023						2024						2023
Operating lease cost (1)			Occupancy expenses						$	1,300					$	1,296					$	2,485					$	2,515

(1) There were no variable lease costs for the three and six months ended June 30, 2024 and 2023, and sublease income for operating leases was immaterial.

Maturities of Non-cancelable Operating Lease Liabilities

Maturities of non-cancelable operating lease liabilities were as follows at June 30, 2024:

(amounts in thousands)			June 30, 2024
2024			$	2,885
2025			4,863
2026			3,673
2027			3,174
2028			2,714
Thereafter			3,762
Total minimum payments			21,071
Less: interest			2,019
Present value of lease liabilities			$	19,052

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 June 30, 2024 and December 31, 2023:

June 30, 2024

December 31, 2023

Weighted average remaining lease term (years)

Operating leases

5.1 years

5.6 years

Weighted average discount rate

Operating leases

3.67

%

3.28

%

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 June 30, 2024 and December 31, 2023:

(amounts in thousands)			Classification						June 30, 2024						December 31, 2023
ASSETS
Direct financing leases
Lease receivables			Loans and leases receivable						$	207,996					$	190,559
Guaranteed residual assets			Loans and leases receivable						19,475						15,783
Unguaranteed residual assets			Loans and leases receivable						10,335						10,010
Deferred initial direct costs			Loans and leases receivable						1,374						1,213
Unearned income			Loans and leases receivable						(16,974)						(11,891)
Net investment in direct financing leases									$	222,206					$	205,674
Operating leases
Investment in operating leases			Other assets						$	278,527					$	282,208
Accumulated depreciation			Other assets						(81,417)						(77,672)
Deferred initial direct costs			Other assets						1,038						1,192
Net investment in operating leases									198,148						205,728
Total lease assets									$	420,354					$	411,402

Sales-type and Direct Financing Leases, Lease Receivable, Maturity

Maturities of operating and direct financing lease receivables were as follows at June 30, 2024:

(amounts in thousands)			Operating leases						Direct financing leases
2024			$	21,925					$	27,880
2025			39,817						49,116
2026			45,492						41,915
2027			32,308						36,872
2028			55,224						27,313
Thereafter			30,125						25,244
Total minimum payments			$	224,891					208,340
Less: interest									344
Present value of lease receivables									$	207,996

Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity

Maturities of operating and direct financing lease receivables were as follows at June 30, 2024:

(amounts in thousands)			Operating leases						Direct financing leases
2024			$	21,925					$	27,880
2025			39,817						49,116
2026			45,492						41,915
2027			32,308						36,872
2028			55,224						27,313
Thereafter			30,125						25,244
Total minimum payments			$	224,891					208,340
Less: interest									344
Present value of lease receivables									$	207,996

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- Definition

Lessee, Summary of Right-of-Use Assets and Lease Liabilities [Table Text Block]

+ References

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Lessor, Lease Receivables and Investment in Operating Leases and their Corresponding Balance Sheet Location [Table Text Block]

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Summary of Lease Term and Discount Rate for Operating Leases [Table Text Block]

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No definition available.

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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
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-4

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- Definition

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
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479773/842-30-50-12

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- Definition

Tabular disclosure of maturity of undiscounted cash flows to be received on annual basis for sales-type and direct financing leases receivable. Includes, but is not limited to, reconciliation to lease receivable recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479773/842-30-50-10

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