Leases (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Right-of-Use Assets and Lease Liabilities

The following table represents the classification of the Company’s ROU assets and lease liabilities on the consolidated statements of financial condition (in thousands):



		March 31, 2019
Lease ROU Assets	Classification
Operating lease ROU asset	Other Assets	$	20,617
Finance lease ROU asset	Premises and equipment, net	3,388
Total Lease ROU Asset		$	24,005

Lease Liabilities
Operating lease liability	Other Liabilities	$	20,651
Finance lease liability	Other Borrowings	5,269
Total Lease Liability		$	25,920

Schedule of Weighted Average Remaining Lease Term and Discount Rate



	March 31, 2019
Weighted-Average Remaining Lease Term
Operating leases	9.97 years
Finance leases	7.92 years
Weighted-Average Discount Rate
Operating leases	3.44	%
Finance leases	7.05	%

Schedule of Lease Costs and Other Lease Information

The following table represents lease expenses and other lease information (in thousands):



	Three Months Ended March 31, 2019
Lease Expense
Operating Lease Expense	$	969
Finance Lease Expense:
Amortization of ROU assets	108
Interest on lease liabilities⁽¹⁾	90
Total	$	1,167

Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	934
Operating cash flows from finance leases	90
Financing cash flows from finance leases	127


(1)	Included in borrowed funds interest expense on the consolidated statements of income. All other costs are included in occupancy expense.

Future Minimum Payments for Finance Leases

Future minimum payments for finance leases and operating leases with initial or remaining terms of one year or more as of March 31, 2019 were as follows (in thousands):



	Finance Leases			Operating Leases
For the Twelve Months Ended March 31,
2020	$	864		$	3,681
2021	905			3,286
2022	936			3,022
2023	936			2,677
2024	936			1,943
Thereafter	2,484			10,312
Total	$	7,061		$	24,921
Less: Imputed Interest	(1,792		)	(4,270		)
Total Lease Liabilities	$	5,269		$	20,651

Future Minimum Payments for Operating Leases

Future minimum payments for finance leases and operating leases with initial or remaining terms of one year or more as of March 31, 2019 were as follows (in thousands):



	Finance Leases			Operating Leases
For the Twelve Months Ended March 31,
2020	$	864		$	3,681
2021	905			3,286
2022	936			3,022
2023	936			2,677
2024	936			1,943
Thereafter	2,484			10,312
Total	$	7,061		$	24,921
Less: Imputed Interest	(1,792		)	(4,270		)
Total Lease Liabilities	$	5,269		$	20,651