Lease Commitments

3 Months Ended

Mar. 31, 2025

Our leases relate primarily to office space and bank branches with remaining lease terms of generally 1 to 15 years. Certain lease arrangements contain extension options which typically range from 5 to 10 years at the then fair market rental rates. As these extension options are not generally considered reasonably certain of exercise, they are not included in the lease term.


	March 31, 2025			December 31, 2024
ROU asset on leased property, gross	$	41,334		$	38,779
Accumulated amortization	(18,043)			(16,303)
ROU asset, net (included in prepaid expenses and other assets in our consolidated balance sheets)	$	23,291		$	22,476
Lease liability (included in accrued expenses and other liabilities in our consolidated balance sheets)	$	25,134		$	24,376
Weighted Average Remaining Life - Operating Leases (years)	5.04			5.09
Weighted Average Rate - Operating Leases	2.83		%	2.61		%

The following table reconciles future undiscounted lease payments due under non-cancelable operating leases to the aggregate operating lessee lease liability as of March 31, 2025:


Remainder of 2025	$	7,278
2026	5,472
2027	4,071
2028	3,783
2029	2,903
2030	3,425
Thereafter	115
Total undiscounted operating lease liability	27,047
Imputed interest	1,913
Total operating lease liability included in the accompanying balance sheet	$	25,134

Total lease expense for three months ended March 31, 2025 and 2024 was $2,036 and $1,924, respectively. The components of total lease expense was as follows:


	For the three months ended March 31,
	2025		2024
Operating leases	$	1,970	$	1,922
Short-term leases	102		47

Sublease income	(36)		(45)
Net lease expense	$	2,036	$	1,924

We do not currently have any significant finance leases in which we are the lessee, material related-party leases, leases containing residual value guarantees or restrictive covenants.