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Leases (Tables)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Schedule of Right-of-Use Assets and Lease Liabilities
The following table represents the classification of the Company’s right-of-use (“ROU”) assets and lease liabilities on the consolidated statements of financial condition (in thousands):
For the Year Ended
December 31, 2021December 31, 2020
Lease ROU AssetsClassification
Operating lease ROU assetsOther assets$17,442 $22,555 
Finance lease ROU assetPremises and equipment, net1,495 1,694 
Total lease ROU assets$18,937 $24,249 
Lease Liabilities
Operating lease liabilities (1)
Other liabilities$17,982 $22,990 
Finance lease liabilityOther borrowings1,904 2,100 
Total lease liabilities$19,886 $25,090 
(1) Operating lease liabilities excludes liabilities for future rent and lease termination payments related to closed branches of $8.2 million and $7.4 million as of December 31, 2021 and 2020, respectively.
Schedule of Weighted Average Remaining Lease Term and Discount Rate
December 31, 2021December 31, 2020
Weighted-Average Remaining Lease Term
Operating leases8.22 years7.77 years
Finance lease7.59 years8.59 years
Weighted-Average Discount Rate
Operating leases2.97 %3.01 %
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):
For the Year Ended December 31,
202120202019
Lease Expense
Operating lease expense$5,935 $6,438 $3,904 
Finance lease expense:
Amortization of ROU assets199 174 274 
Interest on lease liabilities (1)
112 110 174 
Total$6,246 $6,722 $4,352 
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$5,263 $6,298 $3,625 
Operating cash flows from finance leases112 110 174 
Financing cash flows from finance leases195 187 263 
(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 the finance lease and operating leases with initial or remaining terms of one year or more as of December 31, 2021 were as follows (in thousands):
Finance LeaseOperating Leases
For the Year Ending December 31,
2022$307 $4,404 
2023307 3,033 
2024307 2,737 
2025307 2,307 
2026307 1,650 
Thereafter798 6,681 
Total2,333 20,812 
Less: Imputed interest(429)(2,830)
Total lease liabilities$1,904 $17,982 
Future Minimum Payments for Operating Leases
Future minimum payments for the finance lease and operating leases with initial or remaining terms of one year or more as of December 31, 2021 were as follows (in thousands):
Finance LeaseOperating Leases
For the Year Ending December 31,
2022$307 $4,404 
2023307 3,033 
2024307 2,737 
2025307 2,307 
2026307 1,650 
Thereafter798 6,681 
Total2,333 20,812 
Less: Imputed interest(429)(2,830)
Total lease liabilities$1,904 $17,982