Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

Leases

    Lease expense for these leases is recognized on a straight-line basis over the lease term, with variable lease payments recognized in the period those payments are incurred. The components of lease cost recognized within our Consolidated Statements of Income were as follows:                                                    

	For the years ended December 31,
	2022		2021	2020
Operating lease costs (office operations)	$	6,201	5,802	6,139
Variable lease costs (office operations)	677		662	680
Total operating lease costs	$	6,878	6,464	6,819

    Amounts reported in the Consolidated Statements of Financial Condition were as follows:

	For the years ended December 31,
	2022		2021
Operating leases:
Operating lease ROU assets (other assets)	$	54,925	54,887
Operating lease liabilities (other liabilities)	57,737		57,726

Other information related to leases were as follows:                                     

	For the years ended December 31,
	2022			2021
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow from operating leases	$	6,207		6,143
ROU assets obtained in exchange for lease obligations	5,588			12,866
Weighted average remaining lease term	15.6 years			15.9 years
Weighted average discount rate	3.2		%	3.1	%

    Amounts disclosed for ROU assets obtained in exchange for lease obligations include amounts added to the carrying amount of ROU assets resulting from lease modifications and reassessments.

    Maturities of lease liabilities by fiscal year for our operating leases are as follows:

	As of December 31, 2022
2023	$	6,007
2024	5,300
2025	4,975
2026	4,878
2027	4,692
Thereafter	49,294
Total lease payments	75,146
Less amount of lease payments representing interest	17,409
Total present value of lease payments	$	57,737

Rental expense for the years ended December 31, 2022, 2021 and 2020 was $6.9 million, $6.5 million and $6.8 million, respectively.