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Leases (Tables)
6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Schedule of Supplemental Information Related to Operating Leases
Supplemental information related to the Company’s operating and financing leases are as follows (dollar amounts in thousands):
Classification in
Unaudited Condensed
Consolidated Statements
of Financial Condition
June 30, 2024December 31, 2023
Assets
Operating lease ROU assetsOther assets$121,788 $124,165 
Finance lease ROU assetsFixed assets, net$3,611 $4,264 
Liabilities
Operating lease liabilitiesAccounts payable,
accrued and other
liabilities
$146,043 $149,640 
Finance lease liabilitiesAccounts payable,
accrued and other
liabilities
$3,996 $4,721 
Schedule of Weighted-Average Remaining Lease Term and Discount Rate
 June 30, 2024December 31, 2023
Weighted-average remaining lease term
Operating leases (years)7.07.3
Finance leases (years)2.93.4
Weighted-average discount rate
Operating leases4.9 %5.0 %
Finance leases4.3 %4.3 %
Schedule of Components of Lease Expense
The components of lease expense are as follows (in thousands):
Classification in
Unaudited Condensed
Consolidated Statements
of Operations
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Operating lease cost1
Occupancy and
equipment
$8,153 $7,993 $16,598 $16,846 
Finance lease cost
Amortization on ROU assetsOccupancy and equipment$326 $326 $653 $653 
Interest on lease liabilitiesInterest expense$44 $56 $91 $116 
__________________________
1Short-term lease expense was not material for the three and six months ended June 30, 2024 and 2023.
Schedule of Maturity Analysis of Operating Lease Liabilities
The following table shows the Company’s maturity analysis of its operating and finance lease liabilities (in thousands):
June 30, 2024
Operating leasesFinance leases
2024 (excluding the six months ended June 30, 2024)$16,693 $785 
202529,900 1,448 
202622,941 1,290 
202721,661 627 
202815,371 — 
Thereafter79,387 — 
Total$185,953 $4,150 
Interest(39,910)(154)
Total$146,043 $3,996 
Schedule of Maturity Analysis of Finance Lease Liabilities
The following table shows the Company’s maturity analysis of its operating and finance lease liabilities (in thousands):
June 30, 2024
Operating leasesFinance leases
2024 (excluding the six months ended June 30, 2024)$16,693 $785 
202529,900 1,448 
202622,941 1,290 
202721,661 627 
202815,371 — 
Thereafter79,387 — 
Total$185,953 $4,150 
Interest(39,910)(154)
Total$146,043 $3,996 
Schedule of Cash Flow Information Related to Lease Liabilities
The following table shows cash flow information related to lease liabilities (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
Cash paid for amounts included in the measurement of lease liabilities2024202320242023
Operating cash flows from operating lease liabilities$9,581 $8,485 $18,944 $18,089 
Operating cash flows from finance lease liabilities$44 $56 $91 $116 
Financing cash flows from finance lease liabilities$318 $305 $633 $608