Leases (Tables)

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Schedule of Right-of-Use Assets and Lease Liabilities

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

		March 31, 2021		December 31, 2020
Lease ROU Assets	Classification
Operating lease ROU asset	Other assets	$	21,616	$	22,555
Finance lease ROU asset	Premises and equipment, net	1,644		1,694
Total lease ROU asset		$	23,260	$	24,249
Lease Liabilities
Operating lease liability	Other liabilities	$	22,090	$	22,990
Finance lease liability	Other borrowings	2,052		2,100
Total lease liability		$	24,142	$	25,090

Schedule of Weighted Average Remaining Lease Term and Discount Rate

	March 31, 2021		December 31, 2020
Weighted-Average Remaining Lease Term
Operating leases	7.72 years		7.77 years
Finance lease	8.35 years		8.59 years
Weighted-Average Discount Rate
Operating leases	3.00	%	3.01	%
Finance lease	5.63	%	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
	March 31, 2021		March 31, 2020
Lease Expense
Operating lease expense	$	1,490	$	1,723
Finance lease expense:
Amortization of ROU assets	50		40
Interest on lease liabilities(1)	29		27
Total	$	1,569	$	1,790
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,450	$	1,648
Operating cash flows from finance leases	29		27
Financing cash flows from finance leases	48		47

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

Schedule of 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 March 31, 2021 were as follows (in thousands):

	Finance Lease		Operating Leases
For the Twelve Months Ended March 31,
2022	$	307	$	5,836
2023	307		4,292
2024	307		3,190
2025	307		2,739
2026	307		2,154
Thereafter	1,028		7,164
Total	$	2,563	$	25,375
Less: Imputed interest	(511)		(3,285)
Total lease liabilities	$	2,052	$	22,090

Schedule of 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 March 31, 2021 were as follows (in thousands):

	Finance Lease		Operating Leases
For the Twelve Months Ended March 31,
2022	$	307	$	5,836
2023	307		4,292
2024	307		3,190
2025	307		2,739
2026	307		2,154
Thereafter	1,028		7,164
Total	$	2,563	$	25,375
Less: Imputed interest	(511)		(3,285)
Total lease liabilities	$	2,052	$	22,090