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Leases Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Leases | Leases The Company's noncancelable operating lease agreements relate to certain banking offices, back-office operational facilities, office equipment and sublease agreements. The majority of the leases contain renewal options and provisions for increases in rental rates based on an agreed upon index or predetermined escalation schedule. As of December 31, 2024 and December 31, 2023, the Company’s operating lease ROU asset was $22.4 million and $23.6 million, respectively, and is included in "Prepaid expenses and other assets" in the Consolidated Statements of Financial Condition. The related operating lease ROU liability was $24.9 million and $25.5 million, respectively and is included in "Accrued expenses and other liabilities" in the Consolidated Statements of Financial Condition. In addition, the Company has one operating sublease agreement in which the Company is the intermediate lessor. The operating sublease is for five years with rental increases on a predetermined escalation schedule with a projected future cash flow of $1.3 million. The Company does not have any leases designated as finance leases. The table below summarizes the information about our leases during the periods or at period end presented:
| Year Ended December 31,
| 2024 |  | 2023
| (Dollars in thousands)
Operating lease cost | $ | 5,458 |  |  | $ | 5,279 |
Short-term lease cost | 61 |  |  | 80 |
Variable lease cost | 1,255 |  |  | 1,243 |
Sublease income | (393) |  |  | (392) |
Total net lease cost during the period | $ | 6,381 |  |  | $ | 6,210 |
Operating cash used for amounts included in the measurement of lease liabilities during the period | $ | 4,890 |  |  | $ | 4,982 |
ROU assets obtained in exchange for lease liabilities during the period | 3,504 |  |  | 6,880 |
Weighted average remaining lease term of operating leases, in years, at period end | 5.8 |  | 6.2
Weighted average discount rate of operating leases, at period end | 3.24 | % |  | 2.95 | %
The following table presents the lease payment obligations as of December 31, 2024 as outlined in the Company’s lease agreements for each of the next five years and thereafter, in thousands:
2025 | $ | 5,648 |
2026 | 5,229 |
2027 | 4,777 |
2028 | 3,243 |
2029 | 2,826 |
Thereafter | 5,855 |
Total lease payments | 27,578 |
Imputed interest | (2,658) |
ROU liability | $ | 24,920 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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