Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Schedule of Right-of-Use Assets and Lease Liabilities

The following table represents the classification of the Company’s ROU assets and lease liabilities on the consolidated statements of financial condition (in thousands):

		September 30, 2019
Lease ROU Assets	Classification
Operating lease ROU asset	Other assets	$	19,627
Finance lease ROU asset	Premises and equipment, net	1,575
Total Lease ROU Asset		$	21,202
Lease Liabilities
Operating lease liability	Other liabilities	$	19,779
Finance lease liability	Other borrowings	1,999
Total Lease Liability		$	21,778

Schedule of Weighted Average Remaining Lease Term and Discount Rate

	September 30, 2019
Weighted-Average Remaining Lease Term
Operating leases	9.61 years
Finance lease	9.85 years
Weighted-Average Discount Rate
Operating leases	3.43	%
Finance lease	5.63	%

Schedule of Lease Costs and Other Lease Information

The following table represents lease expenses and other lease information (in thousands):

	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Lease Expense
Operating Lease Expense	$	995	$	2,963
Finance Lease Expense:
Amortization of ROU assets	41		234
Interest on lease liabilities(1)	29		147
Total	$	1,065	$	3,344
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	969	$	2,834
Operating cash flows from finance leases	29		147
Financing cash flows from finance leases	46		217

(1)

Included in borrowed funds interest expense on the consolidated statements of income. All other costs are included in occupancy expense.

Future Minimum Payments for Finance Leases

Future minimum payments for the finance lease and operating leases with initial or remaining terms of one year or more as of September 30, 2019 were as follows (in thousands):

	Finance Lease			Operating Leases
For the Twelve Months Ended September 30,
2020	$	295		$	3,646
2021	295			3,301
2022	295			2,980
2023	295			2,313
2024	295			1,902
Thereafter	1,016			9,633
Total	$	2,491		$	23,775
Less: Imputed Interest	(492		)	(3,996		)
Total Lease Liabilities	$	1,999		$	19,779

Future Minimum Payments for Operating Leases

Future minimum payments for the finance lease and operating leases with initial or remaining terms of one year or more as of September 30, 2019 were as follows (in thousands):

	Finance Lease			Operating Leases
For the Twelve Months Ended September 30,
2020	$	295		$	3,646
2021	295			3,301
2022	295			2,980
2023	295			2,313
2024	295			1,902
Thereafter	1,016			9,633
Total	$	2,491		$	23,775
Less: Imputed Interest	(492		)	(3,996		)
Total Lease Liabilities	$	1,999		$	19,779