Leases

9 Months Ended

Sep. 30, 2025

Leases

Leases

Note 13—Leases

The Company has operating lease agreements relating to its facilities. The Company’s operating lease agreements have remaining terms ranging from less than one year to eight years. Some of the operating lease agreements include options to extend the term for up to five years. None of the Company’s operating lease agreements require the Company to make variable lease payments.

The Company’s lease agreements are summarized below:

	Quarter ended September 30,				Nine months ended September 30,
	2025		2024		2025		2024
	(dollars in thousands)
Lease expense:
Operating leases	$	4,142	$	3,917	$	12,177	$	11,952
Short-term leases		114		66		262		234
Sublease income		(377)		(394)		(1,132)		(1,136)
Net lease expense included in Occupancy and equipment expense	$	3,879	$	3,589	$	11,307	$	11,050
Other information:
Payments for operating leases	$	4,918	$	5,093	$	15,330	$	15,053
Operating lease right-of-use assets recognized	$	12,413	$	1,388	$	13,622	$	1,388
Period end weighted averages:
Remaining lease term (in years)						4.8		3.7
Discount rate						4.8%		4.0%

Lease payment obligations attributable to the Company’s operating lease liabilities are summarized below:

Twelve months ended September 30,	Operating leases
	(in thousands)
2026	$	5,119
2027		17,441
2028		9,560
2029		7,956
2030		6,780
Thereafter		13,045
Total lease payments		59,901
Less imputed interest		(6,852)
Operating lease liability included in Accounts payable and accrued expenses	$	53,049