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Leases (Tables)
 9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
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):
September 30, 2020December 31, 2019
Lease ROU AssetsClassification
Operating lease ROU assetOther assets$24,843 $18,682 
Finance lease ROU assetPremises and equipment, net1,744 1,534 
Total Lease ROU Asset$26,587 $20,216 
Lease Liabilities
Operating lease liabilityOther liabilities$25,232 $18,893 
Finance lease liabilityOther borrowings2,145 1,953 
Total Lease Liability$27,377 $20,846 
Schedule of Weighted Average Remaining Lease Term and Discount Rate
September 30, 2020December 31, 2019
Weighted-Average Remaining Lease Term
Operating leases7.64 years9.69 years
Finance lease8.85 years9.60 years
Weighted-Average Discount Rate
Operating leases2.95 %3.45 %
Finance lease5.63 %5.63 %
Schedule of Lease Costs and Other Lease Information
The following table represents lease expenses and other lease information (in thousands):
Three Months EndedNine Months Ended
September 30, 2020September 30, 2019September 30, 2020September 30, 2019
Lease Expense
Operating Lease Expense$1,585 $995 $4,898 $2,963 
Finance Lease Expense:
Amortization of ROU assets43 41 124 234 
Interest on lease liabilities(1)
27 29 80 147 
Total$1,655 $1,065 $5,102 $3,344 
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$1,756 $969 $4,808 $2,834 
Operating cash flows from finance leases27 29 80 147 
Financing cash flows from finance leases47 46 141 217 
(1)Included in borrowed funds interest expense on the consolidated statements of income. All other costs are included in occupancy expense.
Schedule of Future Minimum Payments for Finance Leases
Future minimum payments for the finance lease and operating leases as of September 30, 2020 were as follows (in thousands):
Finance LeaseOperating Leases
For the Twelve Months Ended September 30,
2021$306 $6,188 
2022307 5,634 
2023307 3,547 
2024307 2,813 
2025307 2,471 
Thereafter1,182 8,236 
Total$2,716 $28,889 
Less: Imputed Interest(571)(3,657)
Total Lease Liabilities$2,145 $25,232 
Schedule of Future Minimum Payments for Operating Leases
Future minimum payments for the finance lease and operating leases as of September 30, 2020 were as follows (in thousands):
Finance LeaseOperating Leases
For the Twelve Months Ended September 30,
2021$306 $6,188 
2022307 5,634 
2023307 3,547 
2024307 2,813 
2025307 2,471 
Thereafter1,182 8,236 
Total$2,716 $28,889 
Less: Imputed Interest(571)(3,657)
Total Lease Liabilities$2,145 $25,232