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Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2023
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, 2023 and 2022.
(in thousands)December 31, 2023December 31, 2022
Operating leases:
Operating lease right-of-use assets$20,316 $24,821 
Operating lease liabilities22,906 26,639 
Finance leases:
Finance lease right-of-use assets608 616 
Accumulated amortization(319)(187)
Finance lease right-of-use assets, net1
$289 $429 
Finance lease liabilities2
$298 $439 
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, 2023, 2022 and 2021.
(in thousands)202320222021
Right-of-use assets obtained in exchange for operating lease liabilities$437 $6,116 $2,376 
Right-of-use assets obtained in exchange for finance lease liabilities$7 $151 $444 

The following table shows components of operating and finance lease cost for the years ended December 31, 2023, 2022 and 2021.
(in thousands)202320222021
Operating lease cost1
$5,493 $5,356 $4,823 
Variable lease cost— — — 
Total operating lease cost$5,493 $5,356 $4,823 
Finance lease cost:
Amortization of right-of-use assets2
$147 $127 $96 
Interest on finance lease liabilities3
7 3 2 
Total finance lease cost$154 $130 $98 
Total lease cost$5,647 $5,486 $4,921 
1 Included in occupancy and equipment expense in the consolidated statements of comprehensive income (loss).
2 Included in depreciation and amortization in the consolidated statements of comprehensive income (loss).
3 Included in interest on borrowings and other obligations in the consolidated statements of comprehensive income (loss).
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, 2023. Total minimum lease payments do not include future minimum payment obligations of approximately $2.0 million, excluding renewal options, for an operating lease agreement related to an existing retail branch that commenced subsequent to December 31, 2023. The discount rates used to calculate the present value of lease liabilities were based on the collateralized FHLB borrowing rates that were commensurate with lease terms and minimum payments on the lease commencement date.
(in thousands)December 31, 2023
YearOperating LeasesFinance Leases
2024$4,753 $155 
20254,112 108 
20263,373 38 
20273,096 5 
20282,710 — 
Thereafter7,308 — 
Total minimum lease payments25,352 306 
Amounts representing interest (present value discount)(2,446)(8)
Present value of net minimum lease payments (lease liability)$22,906 $298 
Weighted average remaining term (in years)7.32.2
Weighted average discount rate2.40 %2.07 %