LEASES

12 Months Ended

Dec. 31, 2025

LEASES

LEASES

NOTE 15—LEASES

Right of use assets and lease liabilities associated with the Company’s operating leases are recorded as Other assets and Other liabilities, respectively, in the Consolidated Balance Sheet. As of December 31, 2025, our leases have terms varying in duration, with the longest term ending in 2036.

The following table presents information about the Company’s lease arrangements:  

Operating Lease Arrangements (in thousands)	For the year ended December 31,
Operating Leases	2025		2024		2023
ROU assets	$	76,333	$	80,024	$	76,463
Lease liabilities		105,125		107,502		101,358
Weighted-average remaining lease term		8.4 years		9.1 years		9.8 years
Weighted-average discount rate		4.8%		4.6%		4.0%
Operating Lease Expenses
Single lease costs	$	16,110	$	16,061	$	14,150
Cash paid for amounts included in the measurement of lease liabilities		16,098		14,761		12,406
Right-of-use assets obtained in exchange for new lease obligations		6,056		10,655		16,798

Maturities of lease liabilities as of December 31, 2025 are presented below (in thousands):

Year Ending December 31,
2026	$	17,500
2027		17,477
2028		15,797
2029		13,399
2030		12,012
Thereafter		51,246
Total lease payments	$	127,431
Less imputed interest		(22,306)
Total	$	105,125