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LEASES (Tables)
 9 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Schedule Of Operating And Finance Lease Liabilities
LeasesClassificationSeptember 30, 2022December 31, 2021
Assets:
Operating lease assetsOperating lease assets$28,004 $19,928 
Finance lease assets
Premises and equipment, net (1)
304 358 
Total leased assets$28,308 $20,286 
Liabilities:
Operating lease liabilitiesOperating lease liabilities$29,366 $21,159 
Finance lease liabilitiesAccrued interest payable and other liabilities405 469 
Total leased liabilities$29,771 $21,628 
(1) Finance lease assets are recorded net of accumulated amortization of $912 thousand as of September 30, 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 and nine months ended September 30, 2022 and 2021, respectively, were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
Lease CostClassification2022202120222021
Operating lease costNet occupancy expense$577 $451 $1,635 $1,328 
Variable lease costNet occupancy expense14 10 44 45 
Finance lease cost:
Amortization of leased assetsNet occupancy expense18 18 54 54 
Interest on lease liabilitiesInterest expense - borrowed funds5 6 15 18 
Sublease income (1)
Net occupancy expense(23)(17)(56)(55)
Net lease cost$591 $468 $1,692 $1,390 
(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 September 30, 2022:
Maturity of Lease Liabilities as of September 30, 2022
Operating Leases (1)
Finance LeasesTotal
2022$546 $26 $572 
20232,115 105 2,220 
20242,044 105 2,149 
20252,037 105 2,142 
20262,008 105 2,113 
After 202635,512 035,512 
Total lease payments44,262 446 44,708 
Less: Interest14,896 41 14,937 
Present value of lease liabilities$29,366 $405 $29,771 
(1) Operating lease payments include payments related to options to extend lease terms that are reasonably certain of being exercised and exclude $5.3 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 September 30, 2022:
Maturity of Lease Liabilities as of September 30, 2022
Operating Leases (1)
Finance LeasesTotal
2022$546 $26 $572 
20232,115 105 2,220 
20242,044 105 2,149 
20252,037 105 2,142 
20262,008 105 2,113 
After 202635,512 035,512 
Total lease payments44,262 446 44,708 
Less: Interest14,896 41 14,937 
Present value of lease liabilities$29,366 $405 $29,771 
(1) Operating lease payments include payments related to options to extend lease terms that are reasonably certain of being exercised and exclude $5.3 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 September 30, 2022 and December 31, 2021 were as follows:
Lease Term and Discount RateSeptember 30, 2022December 31, 2021
Weighted-average remaining lease term (years)
Operating leases22.718.8
Finance leases4.35.0
Weighted-average discount rate
Operating leases3.53 %3.42 %
Finance leases4.49 %4.49 %

Other information related to the Corporation's lease liabilities as of September 30, 2022 and 2021, respectively, was as follows:
Other InformationSeptember 30, 2022September 30, 2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$888 $699