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Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Operating and Finance Lease Right-of-use Assets and Lease Liabilities
The following table shows the balances of operating and finance lease right-of-use assets and lease liabilities as of December 31, 2020 and 2019.
(in thousands)December 31, 2020December 31, 2019
Operating leases:
Operating lease right-of-use assets$25,612 $11,002 
Operating lease liabilities$27,062 $12,615 
Finance leases:
Finance lease right-of-use assets$365 $379 
Accumulated amortization(307)(170)
Finance lease right-of-use assets, net1
$58 $209 
Finance lease liabilities2
$58 $212 
1 Included in premises and equipment in the consolidated statements of condition.
2 Included in borrowings and other obligations in the consolidated statements of condition.
Schedule of Components of Operating and Finance Lease Cost
The following table shows supplemental disclosures of noncash investing and financing activities for the years ended December 31, 2020 and 2019.
(in thousands)20202019
Right-of-use assets obtained in exchange for operating lease liabilities$18,633 $1,661 
Right-of-use assets obtained in exchange for finance lease liabilities$18 $31 
Reclassification of deferred rent and unamortized lease incentives from other liabilities to operating lease right-of-use assets upon adoption of ASC 842$— $1,967 

There were no lease-related noncash investing and financing activities for the year ended December 31, 2018.

The following table shows components of operating and finance lease cost for the years ended December 31, 2020 and 2019.
(in thousands)20202019
Operating lease cost1
$4,498 $4,144 
Variable lease cost5 — 
Total operating lease cost$4,503 $4,144 
Finance lease cost:
Amortization of right-of-use assets2
$169 $172 
Interest on finance lease liabilities3
3 8 
Total finance lease cost$172 $180 
Total lease cost$4,675 $4,324 
1 Included in occupancy and equipment expense in the consolidated statements of comprehensive income.
2 Included in depreciation and amortization in the consolidated statements of comprehensive income.
3 Included in interest on borrowings and other obligations in the consolidated statements of comprehensive income.
Schedule of Finance Lease Liability Maturities
The following table shows the future minimum lease payments, weighted average remaining lease terms, and weighted average discount rates under operating and finance lease arrangements as of December 31, 2020.
(in thousands)December 31, 2020
YearOperating LeasesFinance Leases
2021$4,612 $42 
20224,424 13 
20234,004 4 
20243,302 — 
20252,877 — 
Thereafter9,869 — 
Total minimum lease payments29,088 59 
Amounts representing interest (present value discount)(2,026)(1)
Present value of net minimum lease payments (lease liability)$27,062 $58 
Weighted average remaining term (in years)7.81.4
Weighted average discount rate1.80 %2.35 %