Leases

3 Months Ended

Mar. 31, 2021

Leases

Leases

Note 10—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 ten 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 March 31,
	2021		2020
Lease expense:
Operating leases	$	4,366	$	3,932
Short-term leases		50		256
Net lease expense included in Occupancy and equipment	$	4,416	$	4,188
Other information:
Payments for operating leases	$	5,036	$	4,440
Operating lease right-of-use assets recognized	$	3,243	$	1,534
Period end weighted averages:
Remaining lease term (in years)		6.2		6.9
Discount rate		4.1%		4.3%

Lease payments of the Company’s operating lease liabilities are summarized below:

Twelve months ended March 31,	Operating leases
	(in thousands)
2022	$	19,690
2023		18,526
2024		17,488
2025		15,765
2026		14,933
Thereafter		24,065
Total lease payments		110,467
Less imputed interest		(14,398)
Operating lease liability	$	96,069