LEASES

12 Months Ended

Dec. 31, 2021

LEASES

Leases

NOTE 15—LEASES

Right-of-use (“ROU”) 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, 2021, our leases have terms varying in duration, with the longest term ending in 2029.

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

	As of and for the years ended December 31,
Operating Lease Arrangements (dollars in thousands)	2021		2020		2019
Operating Leases
Right-of-use assets	$	24,825	$	17,405	$	22,307
Lease Liabilities		29,523		22,579		28,156
Weighted-average remaining lease term		4.0 years		3.2 years		3.7 years
Weighted-average discount rate		3.3%		4.6%		4.7%
Operating Lease Expenses
Single lease costs	$	9,435	$	8,856	$	7,593
Cash paid for amounts included in the measurement of lease liabilities		9,617		8,833		8,218
Right-of-use assets obtained in exchange for new lease obligations		13,215		1,488		3,013

Maturities of lease liabilities as of December 31, 2021 are presented below (in thousands):

Year Ending December 31,
2022	$	10,412
2023		9,228
2024		3,585
2025		2,223
Thereafter		4,094
Total lease payments	$	29,542
Less imputed interest		(19)
Total	$	29,523