XML 31 R18.htm IDEA: XBRL DOCUMENT
v3.20.4

Right-Of-Use Assets and Lease Liabilities | 12 Months Ended
--- | ---
Dec. 31, 2020
Leases [Abstract] |
RIGHT-OF-USE ASSETS AND LEASE LIABILITIES | RIGHT-OF-USE ASSETS AND LEASE LIABILITIES We have 51 lease contracts, including 48 operating leases and three finance leases. These leases are for our branch, loan production and support services facilities. Included in the lease expense for premises are leases with one S&T director, which totaled approximately $0.2 million for each of the three years 2020, 2019 and 2018. The following table presents our lease expense for finance and operating leases for the years ended December 31:
(dollars in thousands) |  | 2020 |  | 2019 |  | 2018
Operating lease expense |  | $ | 5,711 |  |  | $ | 4,221 |  |  | $ | 3,850 |
Amortization of ROU assets - finance leases |  | 224 |  |  | 101 |  |  | 44 |
Interest on lease liabilities - finance leases (1) |  | 84 |  |  | 74 |  |  | 11 |
Total Lease Expense |  | $ | 6,019 |  |  | $ | 4,396 |  |  | $ | 3,905 |
(1) Included in borrowings interest expense in our Consolidated Statements of Net Income. All other lease costs in this table are included in net occupancy expense.
The following table presents our ROU assets, weighted average term and the discount rates for finance and operating leases as of December 31:
(dollars in thousands) |  |  |  | 2020 |  | 2019
Operating Leases |  |  |  |  |  |
ROU assets |  |  |  | $ | 46,245 |  |  | $ | 47,686 |
Operating cash flows |  |  |  | $ | 6,489 |  |  | $ | 5,028 |
Finance Leases |  |  |  |  |  |
ROU assets |  |  |  | $ | 1,278 |  |  | $ | 1,513 |
Operating cash flows |  |  |  | $ | 84 |  |  | $ | 47 |
Financing cash flows |  |  |  | $ | 180 |  |  | $ | 57 |
Weighted Average Lease Term - Years |  |  |  |  |  |
Operating leases |  |  |  | 18.70 |  | 19.18
Finance leases |  |  |  | 12.09 |  | 12.16
Weighted Average Discount Rate |  |  |  |  |  |
Operating leases |  |  |  | 5.90 | % |  | 5.94 | %
Finance leases |  |  |  | 5.81 | % |  | 5.73 | %
Leases acquired from the DNB merger were remeasured at the acquisition date resulting in a ROU asset of $10.9 million at December 31, 2019. As of December 31, 2020, two operating leases were considered abandoned due to branch closures and the right-of-use asset values were reduced by $0.5 million to zero and the related liabilities were reduced by $0.2 million. We recognized additional expense of $0.3 million at the date of abandonment for these two leases. The following table presents the maturity analysis of lease liabilities for finance and operating leases as of December 31, 2020:
(dollars in thousands) |  |  |  |  |  |
Maturity Analysis |  | Finance | Operating |  | Total
2021 |  | $ | 269 |  |  | $ | 4,789 |  |  | $ | 5,058 |
2022 |  | 225 |  |  | 4,855 |  |  | 5,080 |
2023 |  | 129 |  |  | 4,759 |  |  | 4,888 |
2024 |  | 130 |  |  | 4,752 |  |  | 4,882 |
2025 |  | 132 |  |  | 4,787 |  |  | 4,919 |
Thereafter |  | 1,145 |  |  | 66,409 |  |  | 67,554 |
Total |  | 2,030 |  |  | 90,351 |  |  | 92,381 |
Less: Present value discount |  | (636) |  |  | (38,402) |  |  | (39,038) |
Lease Liabilities |  | $ | 1,394 |  |  | $ | 51,949 |  |  | $ | 53,343 |
RIGHT-OF-USE ASSETS AND LEASE LIABILITIES | RIGHT-OF-USE ASSETS AND LEASE LIABILITIES We have 51 lease contracts, including 48 operating leases and three finance leases. These leases are for our branch, loan production and support services facilities. Included in the lease expense for premises are leases with one S&T director, which totaled approximately $0.2 million for each of the three years 2020, 2019 and 2018. The following table presents our lease expense for finance and operating leases for the years ended December 31:
(dollars in thousands) |  | 2020 |  | 2019 |  | 2018
Operating lease expense |  | $ | 5,711 |  |  | $ | 4,221 |  |  | $ | 3,850 |
Amortization of ROU assets - finance leases |  | 224 |  |  | 101 |  |  | 44 |
Interest on lease liabilities - finance leases (1) |  | 84 |  |  | 74 |  |  | 11 |
Total Lease Expense |  | $ | 6,019 |  |  | $ | 4,396 |  |  | $ | 3,905 |
(1) Included in borrowings interest expense in our Consolidated Statements of Net Income. All other lease costs in this table are included in net occupancy expense.
The following table presents our ROU assets, weighted average term and the discount rates for finance and operating leases as of December 31:
(dollars in thousands) |  |  |  | 2020 |  | 2019
Operating Leases |  |  |  |  |  |
ROU assets |  |  |  | $ | 46,245 |  |  | $ | 47,686 |
Operating cash flows |  |  |  | $ | 6,489 |  |  | $ | 5,028 |
Finance Leases |  |  |  |  |  |
ROU assets |  |  |  | $ | 1,278 |  |  | $ | 1,513 |
Operating cash flows |  |  |  | $ | 84 |  |  | $ | 47 |
Financing cash flows |  |  |  | $ | 180 |  |  | $ | 57 |
Weighted Average Lease Term - Years |  |  |  |  |  |
Operating leases |  |  |  | 18.70 |  | 19.18
Finance leases |  |  |  | 12.09 |  | 12.16
Weighted Average Discount Rate |  |  |  |  |  |
Operating leases |  |  |  | 5.90 | % |  | 5.94 | %
Finance leases |  |  |  | 5.81 | % |  | 5.73 | %
Leases acquired from the DNB merger were remeasured at the acquisition date resulting in a ROU asset of $10.9 million at December 31, 2019. As of December 31, 2020, two operating leases were considered abandoned due to branch closures and the right-of-use asset values were reduced by $0.5 million to zero and the related liabilities were reduced by $0.2 million. We recognized additional expense of $0.3 million at the date of abandonment for these two leases. The following table presents the maturity analysis of lease liabilities for finance and operating leases as of December 31, 2020:
(dollars in thousands) |  |  |  |  |  |
Maturity Analysis |  | Finance | Operating |  | Total
2021 |  | $ | 269 |  |  | $ | 4,789 |  |  | $ | 5,058 |
2022 |  | 225 |  |  | 4,855 |  |  | 5,080 |
2023 |  | 129 |  |  | 4,759 |  |  | 4,888 |
2024 |  | 130 |  |  | 4,752 |  |  | 4,882 |
2025 |  | 132 |  |  | 4,787 |  |  | 4,919 |
Thereafter |  | 1,145 |  |  | 66,409 |  |  | 67,554 |
Total |  | 2,030 |  |  | 90,351 |  |  | 92,381 |
Less: Present value discount |  | (636) |  |  | (38,402) |  |  | (39,038) |
Lease Liabilities |  | $ | 1,394 |  |  | $ | 51,949 |  |  | $ | 53,343 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration