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LEASES (Tables) | 3 Months Ended
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Mar. 31, 2022
Leases [Abstract] |
Schedule Of Operating And Finance Lease Liabilities |
Leases |  | Classification |  | March 31, 2022 |  | December 31, 2021
Assets: |  |  |  |  |  |
Operating lease assets |  | Operating lease assets |  | $ | 25,698 |  |  | $ | 19,928 |
Finance lease assets |  | Premises and equipment, net (1) |  | 340 |  |  | 358 |
Total leased assets |  |  |  | $ | 26,038 |  |  | $ | 20,286 |
Liabilities: |  |  |  |  |  |
Operating lease liabilities |  | Operating lease liabilities |  | $ | 26,955 |  |  | $ | 21,159 |
Finance lease liabilities |  | Accrued interest payable and other liabilities |  | 448 |  |  | 469 |
Total leased liabilities |  |  |  | $ | 27,403 |  |  | $ | 21,628 |
(1) Finance lease assets are recorded net of accumulated amortization of $876 thousand as of March 31, 2022 and $858 thousand as of December 31, 2021.
Schedule Of Lease Cost | The components of the Corporation's net lease expense for the three months ended March 31, 2022 and 2021, respectively, were as follows:
|  |  |  | Three months ended March 31, |  |
Lease Cost |  | Classification |  | 2022 |  | 2021 |  |  |  |
Operating lease cost |  | Net occupancy expense |  | $ | 492 |  |  | $ | 440 |  |  |  |  |
Variable lease cost |  | Net occupancy expense |  | 13 |  |  | 17 |  |  |  |  |
Finance lease cost: |  |  |  |  |  |  |  |  |  |
Amortization of leased assets |  | Net occupancy expense |  | 18 |  |  | 18 |  |  |  |  |
Interest on lease liabilities |  | Interest expense - borrowed funds |  | 5 |  |  | 6 |  |  |  |  |
Sublease income (1) |  | Net occupancy expense |  | (17) |  |  | (19) |  |  |  |  |
Net lease cost |  |  |  | $ | 511 |  |  | $ | 462 |  |  |  |  |
(1) Sublease income excludes rental income from owned properties.
Finance Lease, Liability, Maturity | The following table sets forth future minimum rental payments under noncancellable leases with initial terms in excess of one year as of March 31, 2022:
Maturity of Lease Liabilities as of March 31, 2022 |  | Operating Leases (1) |  | Finance Leases |  | Total
2022 |  | $ | 1,487 |  |  | $ | 79 |  |  | $ | 1,566 |
2023 |  | 1,919 |  |  | 105 |  |  | 2,024 |
2024 |  | 1,880 |  |  | 105 |  |  | 1,985 |
2025 |  | 1,873 |  |  | 105 |  |  | 1,978 |
2026 |  | 1,845 |  |  | 105 |  |  | 1,950 |
After 2026 |  | 30,620 |  |  | 0 |  | 30,620 |
Total lease payments |  | 39,624 |  |  | 499 |  |  | 40,123 |
Less: Interest |  | 12,669 |  |  | 51 |  |  | 12,720 |
Present value of lease liabilities |  | $ | 26,955 |  |  | $ | 448 |  |  | $ | 27,403 |
(1) Operating lease payments include payments related to options to extend lease terms that are reasonably certain of being exercised and exclude $6.6 million of legally binding minimum lease payments for leases signed, but not yet commenced.
Summary of Minimum Annual Rental Commitments Under Operating Lease | The following table sets forth future minimum rental payments under noncancellable leases with initial terms in excess of one year as of March 31, 2022:
Maturity of Lease Liabilities as of March 31, 2022 |  | Operating Leases (1) |  | Finance Leases |  | Total
2022 |  | $ | 1,487 |  |  | $ | 79 |  |  | $ | 1,566 |
2023 |  | 1,919 |  |  | 105 |  |  | 2,024 |
2024 |  | 1,880 |  |  | 105 |  |  | 1,985 |
2025 |  | 1,873 |  |  | 105 |  |  | 1,978 |
2026 |  | 1,845 |  |  | 105 |  |  | 1,950 |
After 2026 |  | 30,620 |  |  | 0 |  | 30,620 |
Total lease payments |  | 39,624 |  |  | 499 |  |  | 40,123 |
Less: Interest |  | 12,669 |  |  | 51 |  |  | 12,720 |
Present value of lease liabilities |  | $ | 26,955 |  |  | $ | 448 |  |  | $ | 27,403 |
(1) Operating lease payments include payments related to options to extend lease terms that are reasonably certain of being exercised and exclude $6.6 million of legally binding minimum lease payments for leases signed, but not yet commenced.
Schedule of Weighted Average Lease Term and Discount Rate | Lease terms and discount rates related to the Corporation's lease liabilities as of March 31, 2022 and December 31, 2021 were as follows:
Lease Term and Discount Rate |  | March 31, 2022 |  | December 31, 2021
Weighted-average remaining lease term (years) |  |  |  |
Operating leases |  | 22.3 |  | 18.8
Finance leases |  | 4.7 |  | 5.0
Weighted-average discount rate |  |  |  |
Operating leases |  | 3.42 | % |  | 3.42 | %
Finance leases |  | 4.49 | % |  | 4.49 | %
Other information related to the Corporation's lease liabilities as of March 31, 2022 and 2021 was as follows:
Other Information |  | March 31, 2022 |  | March 31, 2021
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows from operating leases |  | $ | 283 |  |  | $ | 223 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
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