v3.23.2

Leases (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
Leases [Abstract] |
Components of Equipment Finance Assets | The components of Equipment Finance assets are as follows:
| June 30, 2023 |  | December 31, 2022 |  |
Lease receivables | $ | 120,046 |  |  | $ | 137,969 |  |  |
Unguaranteed residual asset values | 35,105 |  |  | 39,262 |  |  |
Unearned income | (13,816) |  |  | (17,786) |  |  |
Deferred fees | 738 |  |  | 874 |  |  |
Total | $ | 142,073 |  |  | $ | 160,319 |  |  |
Future Minimum Payments to be Received, Fiscal Year Maturity | Future minimum lease payments based on maturity of the Company’s lessor arrangements as of June 30, 2023 were as follows:
2023 | $ | 24,987 |
2024 | 40,333 |
2025 | 29,078 |
2026 | 17,503 |
2027 | 7,881 |
Thereafter | 5,539 |
Total lease payments | $ | 125,321 |
Discount effect | (5,275) |
Present value of future minimum lease payments | $ | 120,046 |
Supplemental Balance Sheet Information | Balance sheet information related to leases was as follows:
ROU Assets and Lease Liabilities | Balance Sheet Classification | June 30, 2023 | December 31, 2022 |  |
Operating lease assets | Other assets | $ | 55,436 |  | $ | 63,872 |  |  |
Operating lease liabilities | Other liabilities | $ | 68,095 |  | $ | 77,291 |  |  |
Lease Costs | Components of net lease costs were as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
Net Lease Costs | Income Statement Classification | 2023 |  | 2022 |  | 2023 |  | 2022
Operating lease costs | Occupancy | $ | (3,334) |  |  | $ | (4,366) |  |  | $ | (6,262) |  |  | $ | (8,846) |
Sublease revenue | Other non-interest income | — |  |  | 1,310 |  |  | — |  |  | 2,847 |
Net lease costs |  | $ | (3,334) |  |  | $ | (3,056) |  |  | $ | (6,262) |  |  | $ | (5,999) |
Supplemental Cash Flow Information | Supplemental cash flow information related to the Company’s operating leases was as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Non-cash operating activity: |  |  |  |  |  |  |
Leased assets obtained or adjusted in exchange for new, amended, and modified operating lease liabilities | $ | — |  |  | $ | — |  |  | $ | (4,664) |  |  | $ | — |
Future Minimum Undiscounted Lease Payments | The Company’s future minimum undiscounted lease payments under operating leases as of June 30, 2023 were as follows:
| Operating Lease Payments |  |  |  |
2023 | $ | 6,434 |  |  |  |  |
2024 | 12,798 |  |  |  |  |
2025 | 13,129 |  |  |  |  |
2026 | 11,710 |  |  |  |  |
2027 | 10,987 |  |  |  |  |
Thereafter | 27,238 |  |  |  |  |
Total lease payments | $ | 82,296 |  |  |  |  |
Discount effect | (14,201) |  |  |  |  |
Present value of future minimum lease payments | $ | 68,095 |  |  |  |  |
Weighted-average Remaining Lease Term and Discount Rate | The weighted-average remaining lease term and discount rate used in the calculation of the Company’s operating lease assets and liabilities were as follows:
Lease Term and Discount Rate | June 30, 2023 |  |  |  |
Weighted-average remaining lease term (in years) | 6.7 |  |  |  |
Weighted-average discount rate | 5.39 | % |  |  |  |

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