Leases

9 Months Ended

Sep. 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 September 30,				Nine months ended September 30,
	2022		2021		2022		2021
	(dollars in thousands)
Lease expense:
Operating leases	$	5,046	$	4,671	$	15,008	$	13,545
Short-term leases		235		196		695		666
Net lease expense included in Occupancy and equipment	$	5,281	$	4,867	$	15,703	$	14,211
Other information:
Payments for operating leases	$	5,544	$	5,210	$	15,801	$	15,395
Operating lease right-of-use assets recognized	$	571	$	13,058	$	1,364	$	20,871
Period end weighted averages:
Remaining lease term (in years)						4.9		6.0
Discount rate						3.8%		4.0%

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

Twelve months ended September 30,	Operating leases
	(in thousands)
2023	$	24,786
2024		21,921
2025		18,855
2026		15,424
2027		8,896
Thereafter		13,263
Total lease payments		103,145
Less imputed interest		(10,765)
Operating lease liability	$	92,380