Leases (Tables)
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6 Months Ended |
Jun. 30, 2023 |
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| Leases [Abstract] |
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| 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 | | | |
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| 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 | |
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| 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 | | | |
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| 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) | |
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| 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) | | | $ | — | |
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| 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 | | | | | |
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| 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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