Leases

12 Months Ended

Dec. 31, 2021

Leases

Leases

Note 10—Leases

Substantially all of the Company’s lease agreements are operating leases and relate to its office facilities. The Company’s operating lease agreements have remaining terms ranging from less than one year to ten years; some of these operating lease agreements include options to extend their terms for up to five years. None of the Company’s operating lease agreements require the Company to make variable lease payments.

The Company’s leases are summarized below:

	Year ended December 31,
	2021		2020		2019
	(dollars in thousands)
Lease expense:
Operating leases	$	18,363	$	16,223	$	13,644
Short-term leases		904		1,153		821
Sublease income		—		—		(94)
Net lease expense included in Occupancy and equipment	$	19,267	$	17,376	$	14,371
Other information:
Payments for operating leases	$	20,145	$	16,524	$	16,167
Operating lease right-of-use assets recognized
Upon adoption Accounting Standards Update 2016-02, Leases (Topic 842)	$	—	$	—	$	58,713
New leases		28,401		14,128		24,535
	$	28,401	$	14,128	$	83,248
Period end weighted averages:
Remaining lease term (in years)		5.7		6.3		7.1
Discount rate		4.0%		4.1%		4.3%

The maturities of the Company’s operating lease liabilities are summarized below:

Year ended December 31,	Operating leases
	(in thousands)
2022	$	20,500
2023		21,869
2024		21,900
2025		21,385
2026		16,644
Thereafter		19,536
Total lease payments		121,834
Less imputed interest		(11,831)
Operating lease liability	$	110,003