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v3.22.2.2

Leases (Tables) | 9 Months Ended
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Sep. 30, 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 assets and lease liabilities on the consolidated statements of financial condition (in thousands):
|  |  |  | September 30, |  | December 31,
|  |  |  | 2022 |  | 2021
Lease ROU Assets |  | Classification |  |  |  |
Operating lease ROU assets |  | Other assets |  | $ | 19,474 |  |  | $ | 17,442 |
Finance lease ROU asset |  | Premises and equipment, net |  | 1,347 |  |  | 1,495 |
Total lease ROU assets |  |  |  | $ | 20,821 |  |  | $ | 18,937 |
Lease Liabilities |  |  |  |  |  |
Operating lease liabilities (1) |  | Other liabilities |  | $ | 20,430 |  |  | $ | 17,982 |
Finance lease liability |  | Other borrowings |  | 1,750 |  |  | 1,904 |
Total lease liabilities |  |  |  | $ | 22,180 |  |  | $ | 19,886 |
(1) Operating lease liabilities excludes liabilities for future rent and estimated lease termination payments related to closed branches of $8.2 million at both September 30, 2022 and December 31, 2021.
Schedule of Weighted Average Remaining Lease Term and Discount Rate |
|  | September 30, |  | December 31,
|  | 2022 |  | 2021
Weighted-Average Remaining Lease Term |  |  |  |
Operating leases |  | 7.04 years |  | 8.22 years
Finance lease |  | 6.85 years |  | 7.59 years
Weighted-Average Discount Rate |  |  |  |
Operating leases |  | 2.84 | % |  | 2.97 | %
Finance lease |  | 5.63 |  |  | 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 September 30, |  | Nine Months Ended September 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Lease Expense |  |  |  |  |  |  |  |
Operating lease expense |  | $ | 1,159 |  |  | $ | 1,498 |  |  | $ | 3,857 |  |  | $ | 4,459 |
Finance lease expense: |  |  |  |  |  |  |  |
Amortization of ROU assets |  | 49 |  |  | 50 |  |  | 149 |  |  | 149 |
Interest on lease liabilities(1) |  | 24 |  |  | 28 |  |  | 76 |  |  | 85 |
Total |  | $ | 1,232 |  |  | $ | 1,576 |  |  | $ | 4,082 |  |  | $ | 4,693 |
Other Information |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 955 |  |  | $ | 1,322 |  |  | $ | 3,366 |  |  | $ | 4,119 |
Operating cash flows from finance leases |  | 24 |  |  | 28 |  |  | 76 |  |  | 85 |
Financing cash flows from finance leases |  | 52 |  |  | 50 |  |  | 154 |  |  | 146 |
(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 September 30, 2022 were as follows (in thousands):
|  | Finance Lease |  | Operating Leases
For the Twelve Months Ending September 30, |  |  |  |
2023 |  | $ | 307 |  |  | $ | 4,268 |
2024 |  | 307 |  |  | 3,790 |
2025 |  | 307 |  |  | 3,841 |
2026 |  | 307 |  |  | 3,075 |
2027 |  | 307 |  |  | 2,198 |
Thereafter |  | 568 |  |  | 5,721 |
Total |  | 2,103 |  |  | 22,893 |
Less: Imputed interest |  | (353) |  |  | (2,463) |
Total lease liabilities |  | $ | 1,750 |  |  | $ | 20,430 |
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 September 30, 2022 were as follows (in thousands):
|  | Finance Lease |  | Operating Leases
For the Twelve Months Ending September 30, |  |  |  |
2023 |  | $ | 307 |  |  | $ | 4,268 |
2024 |  | 307 |  |  | 3,790 |
2025 |  | 307 |  |  | 3,841 |
2026 |  | 307 |  |  | 3,075 |
2027 |  | 307 |  |  | 2,198 |
Thereafter |  | 568 |  |  | 5,721 |
Total |  | 2,103 |  |  | 22,893 |
Less: Imputed interest |  | (353) |  |  | (2,463) |
Total lease liabilities |  | $ | 1,750 |  |  | $ | 20,430 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
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