Leases (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Information Related to Company's Leases and Lease Expense

Information related to the Company's leases is presented below as of March 31, 2023 and December 31, 2022:


		March 31,			December 31,
	Classification	2023			2022
Right-of-use assets:
Operating leases	Operating lease right-of-use assets	$	57,054		$	60,043
Finance leases	Premises and equipment, net	1,339			1,367
Total right-of-use assets		$	58,393		$	61,410
Lease liabilities:
Operating leases	Operating lease liabilities	$	67,345		$	69,754
Finance leases	Borrowings	1,397			1,420
Total lease liabilities		$	68,742		$	71,174
Weighted average remaining lease term (in years) - operating		11.9			12.1
Weighted average remaining lease term (in years) - finance		12.1			12.4
Weighted average discount rate - operating		3.21		%	3.08		%
Weighted average discount rate - finance		1.76		%	1.76		%

The components of total lease expense included in the consolidated statements of income were as follows:


		Three Months Ended March 31,

	Classification		2023		2022
Operating lease costs:
Amortization of right-of-use asset	Occupancy and equipment		$	1,815	$	1,710
Short-term lease cost	Occupancy and equipment		121		111
Variable lease cost	Occupancy and equipment		298		256

Gain on lease modifications and terminations	Occupancy and equipment		(72)		(18)
Finance lease costs:
Interest on lease liabilities	Interest expense on borrowings		6		9
Amortization of right-of-use asset	Occupancy and equipment		28		37

Sublease income	Occupancy and equipment		(281)		(195)
Total lease cost			$	1,915	$	1,910

Schedule of Maturity Analysis of Operating Lease Liabilities

A maturity analysis of operating and finance lease liabilities and a reconciliation of undiscounted cash flows to the total lease liability as of March 31, 2023 is as follows:


	Operating		Finance
	Leases		Lease
Lease payments due:
March 31, 2024	$	6,596	$	89
March 31, 2025	7,956		120
March 31, 2026	7,885		121
March 31, 2027	7,715		123
March 31, 2028	7,326		125
Thereafter	45,839		977
Total undiscounted future minimum lease payments	83,317		1,555
Less: imputed interest	(15,972)		(158)
Lease liability	$	67,345	$	1,397

Schedule of Maturity of Finance Lease Liabilities

A maturity analysis of operating and finance lease liabilities and a reconciliation of undiscounted cash flows to the total lease liability as of March 31, 2023 is as follows:


	Operating		Finance
	Leases		Lease
Lease payments due:
March 31, 2024	$	6,596	$	89
March 31, 2025	7,956		120
March 31, 2026	7,885		121
March 31, 2027	7,715		123
March 31, 2028	7,326		125
Thereafter	45,839		977
Total undiscounted future minimum lease payments	83,317		1,555
Less: imputed interest	(15,972)		(158)
Lease liability	$	67,345	$	1,397