Commitments and Contingent Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of details on these fixed and determinable obligations

The Company has various financial obligations, including contractual obligations and commitments that may require future cash payments. Except for its loan commitments, as shown in Note 20 "Financial Instruments With Off Balance Sheet Risk" the following table shows details on these fixed and determinable obligations as of December 31, 2021 in the time period indicated.


(dollars in thousands)	Within One Year		One to Three Years		Three to Five Years		Over Five Years		Total
Deposits without a stated maturity (1)	$	9,252,458	$	—	$	—	$	—	$	9,252,458
Time deposits (1)	478,056		227,188		20,708		3,130		729,082
Borrowed funds (2)	323,918		69,670		—		—		393,588
Operating lease obligations	7,231		13,330		9,517		8,407		38,485
Outside data processing (3)	4,325		5,225		—		—		9,550
George Mason sponsorship (4)	675		1,350		1,388		6,075		9,488
D.C. United (5)	844		—		—		—		844
LIHTC investments (6)	7,973		7,023		469		1,039		16,504
Other (7)	—		2,000		—		—		2,000
Total	$	10,075,480	$	325,786	$	32,082	$	18,651	$	10,451,999

(1)Excludes accrued interest payable at December 31, 2021.

(2)Borrowed funds include customer repurchase agreements, and other short-term and long-term borrowings.

(3)The Bank has outstanding obligations under its current core data processing contract that expire in June 2024 and one other vendor arrangement that relates to network infrastructure and data center services that expires in December 2022.

(4)The Bank has the option of terminating the George Mason agreement at the end of contract years 10 and 15 (that is, effective June 30, 2025 or June 30, 2030). Should the Bank elect to exercise its right to terminate the George Mason contract, contractual obligations would decrease $3.5 million and $3.6 million for the first option period (years 11-15) and the second option period (years16-20), respectively.

(5)Marketing sponsorship agreement with D.C. United.

(6)LIHTC expected payments for unfunded affordable housing commitments.

(7)As disclosed in the 8-K dated January 25, 2021, pursuant to the executed stipulation of settlement of the demand litigation, the Company has agreed to invest an additional $2.0 million incremental spend above 2020 levels by the end of 2023 to enhance its corporate governance, and risk and compliance controls and infrastructure.