Leases

6 Months Ended

Jun. 30, 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 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 June 30,				Six months ended June 30,
	2022		2021		2022		2021
	(dollars in thousands)
Lease expense:
Operating leases	$	5,008	$	4,508	$	9,962	$	8,874
Short-term leases		241		420		460		470
Net lease expense included in Occupancy and equipment	$	5,249	$	4,928	$	10,422	$	9,344
Other information:
Payments for operating leases	$	5,388	$	5,149	$	10,257	$	10,185
Operating lease right-of-use assets recognized	$	793	$	4,570	$	793	$	7,813
Period end weighted averages:
Remaining lease term (in years)						5.3		5.9
Discount rate						3.9%		4.1%

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

Twelve months ended June 30,	Operating leases
	(in thousands)
2022	$	22,626
2023		22,993
2024		22,109
2025		20,059
2026		13,400
Thereafter		14,471
Total lease payments		115,658
Less imputed interest		(12,902)
Operating lease liability	$	102,756