Leases

3 Months Ended

Mar. 31, 2022

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,
	2022		2021
	(dollars in thousands)
Lease expense:
Operating leases	$	4,954	$	4,366
Short-term leases		219		50
Net lease expense included in Occupancy and equipment	$	5,173	$	4,416
Other information:
Payments for operating leases	$	4,869	$	5,036
Operating lease right-of-use assets recognized	$	—	$	3,243
Period end weighted averages:
Remaining lease term (in years)		5.5		6.2
Discount rate		4.0%		4.1%

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

Twelve months ended March 31,	Operating leases
	(in thousands)
2022	$	21,893
2023		22,353
2024		22,268
2025		21,255
2026		15,863
Thereafter		16,439
Total lease payments		120,071
Less imputed interest		(13,755)
Operating lease liability	$	106,316