Leases

12 Months Ended

Dec. 31, 2019

Our leases relate primarily to office space and bank branches with remaining lease terms of generally 1 to 13 years. Certain lease arrangements contain extension options which typically range from 5 to 10 years at the then fair market rental rates. As these extension options are not generally considered reasonably certain of exercise, they are not included in the lease term. As of December 31, 2019, operating lease ROU assets and liabilities were $80.0 million and $95.9 million, respectively. We do not currently have any significant finance leases in which we are the lessee.

The table below summarizes our net lease cost:



(in thousands)	Year Ended December 31, 2019
Operating lease cost	$	14,844
Short-term lease cost	19
Variable lease cost	3,918
Sublease income	(126		)
Net lease cost	$	18,656
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	14,711
Non-cash changes in ROU assets	$	98,369
Non-cash changes in lease liabilities(1)	$	108,189


(1)	Includes $87.9 million in lease liabilities from new ROU assets obtained during the year ended December 31, 2019.

The table below summarizes other information related to our operating leases:



	December 31, 2019
Weighted-average remaining lease term - operating leases, in years	7.2
Weighted-average discount rate - operating leases	2.75	%

The table below summarizes the maturity of remaining lease liabilities:



(in thousands)	December 31, 2019
2020	$	16,586
2021	17,136
2022	16,338
2023	16,377
2024	11,619
2025 and thereafter	28,018
Total lease payments	106,074
Less: Interest	(10,187		)
Present value of lease liabilities	$	95,887