Leases (Tables)

12 Months Ended

Dec. 31, 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):

		December 31, 2019
Lease ROU Assets	Classification
Operating lease ROU asset	Other assets	$	18,682
Finance lease ROU asset	Premises and equipment, net	1,534
Total Lease ROU Asset		$	20,216
Lease Liabilities
Operating lease liability	Other liabilities	$	18,893
Finance lease liability	Other borrowings	1,953
Total Lease Liability		$	20,846

Schedule of Weighted Average Remaining Lease Term and Discount Rate

	December 31, 2019
Weighted-Average Remaining Lease Term
Operating leases	9.69 years
Finance lease	9.60 years
Weighted-Average Discount Rate
Operating leases	3.45	%
Finance lease	5.63	%

Schedule of Lease Costs and Other Lease Information

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

	For Year Ended December 31, 2019
Lease Expense
Operating Lease Expense	$	3,904
Finance Lease Expense:
Amortization of ROU assets	274
Interest on lease liabilities(1)	174
Total	$	4,352
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	3,625
Operating cash flows from finance leases	174
Financing cash flows from finance leases	263

(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 December 31, 2019 were as follows (in thousands):

	Finance Lease			Operating Leases
For the Twelve Months Ended December 31,
2020	$	295		$	3,425
2021	295			3,256
2022	295			2,869
2023	295			2,132
2024	295			1,878
Thereafter	942			9,165
Total	$	2,417		$	22,725
Less: Imputed Interest	(464		)	(3,832		)
Total Lease Liabilities	$	1,953		$	18,893

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 December 31, 2019 were as follows (in thousands):

	Finance Lease			Operating Leases
For the Twelve Months Ended December 31,
2020	$	295		$	3,425
2021	295			3,256
2022	295			2,869
2023	295			2,132
2024	295			1,878
Thereafter	942			9,165
Total	$	2,417		$	22,725
Less: Imputed Interest	(464		)	(3,832		)
Total Lease Liabilities	$	1,953		$	18,893