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Leases (Tables)
 3 Months Ended
Mar. 31, 2022
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):
March 31,December 31,
20222021
Lease ROU AssetsClassification
Operating lease ROU assetsOther assets$14,249 $17,442 
Finance lease ROU assetPremises and equipment, net1,446 1,495 
Total lease ROU assets$15,695 $18,937 
Lease Liabilities
Operating lease liabilities (1)
Other liabilities$14,720 $17,982 
Finance lease liabilityOther borrowings1,854 1,904 
Total lease liabilities$16,574 $19,886 
(1) Operating lease liabilities excludes liabilities for future rent and estimated lease termination payments related to closed branches of $8.6 million and $8.2 million as of March 31, 2022 and December 31, 2021, respectively.
Schedule of Weighted Average Remaining Lease Term and Discount Rate
March 31,December 31,
20222021
Weighted-Average Remaining Lease Term
Operating leases7.86 years8.22 years
Finance lease7.35 years7.59 years
Weighted-Average Discount Rate
Operating leases2.84 %2.97 %
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 Ended March 31,
20222021
Lease Expense
Operating lease expense$1,258 $1,490 
Finance lease expense:
Amortization of ROU assets50 50 
Interest on lease liabilities(1)
26 29 
Total$1,334 $1,569 
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$1,162 $1,450 
Operating cash flows from finance leases26 29 
Financing cash flows from finance leases51 48 
(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 March 31, 2022 were as follows (in thousands):
Finance LeaseOperating Leases
For the Twelve Months Ending March 31,
2023$307 $3,366 
2024307 2,579 
2025307 2,448 
2026307 1,879 
2027307 1,224 
Thereafter721 5,283 
Total2,256 16,779 
Less: Imputed interest(402)(2,059)
Total lease liabilities$1,854 $14,720 
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 March 31, 2022 were as follows (in thousands):
Finance LeaseOperating Leases
For the Twelve Months Ending March 31,
2023$307 $3,366 
2024307 2,579 
2025307 2,448 
2026307 1,879 
2027307 1,224 
Thereafter721 5,283 
Total2,256 16,779 
Less: Imputed interest(402)(2,059)
Total lease liabilities$1,854 $14,720