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Leases (Tables)
3 Months Ended
Mar. 31, 2020
Leases  
Summary of Company's leases

 

 

 

 

 

 

 

 

 

 

 

Quarter ended March 31, 

 

2020

    

2019

 

(dollars in thousands)

Lease expense:

 

 

 

 

 

Operating leases

$

3,932

 

$

3,229

Short-term leases

 

256

 

 

217

Sublease income

 

 —

 

 

(32)

Net lease expense included in Occupancy and equipment

$

4,188

 

$

3,414

 

 

 

 

 

 

Other information:

 

 

 

 

 

Cash payments for operating leases

$

4,440

 

$

3,846

Operating lease right-of-use assets recognized:

 

 

 

 

 

Upon adoption Accounting Standards Update 2016-02, Leases (Topic 842)

$

 —

 

$

58,598

New leases

 

1,534

 

 

 —

 

$

1,534

 

$

58,598

Period end weighted averages:

 

 

 

 

 

Remaining lease term (in years)

 

6.9

 

 

6.3

Discount rate

 

4.3%

 

 

4.6%

 

Schedule of maturities of operating lease liabilities

 

 

 

 

Twelve months ended March 31,

 

Operating leases

 

 

(in thousands)

2021

 

$

17,111

2022

 

 

15,795

2023

 

 

14,509

2024

 

 

13,755

2025

 

 

11,643

Thereafter

 

 

32,758

Total lease payments

 

 

105,571

Less imputed interest

 

 

(15,742)

Total

 

$

89,829