Leases

12 Months Ended

Dec. 31, 2022

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,
	2022		2021		2020
	(dollars in thousands)
Lease expense:
Operating leases	$	19,779	$	18,363	$	16,223
Short-term leases		778		904		1,153
Sublease income		(46)		—		—
Net lease expense included in Occupancy and equipment	$	20,511	$	19,267	$	17,376
Other information:
Payments for operating leases	$	23,475	$	20,145	$	16,524
Operating lease right-of-use assets recognized	$	1,364	$	28,401	$	14,128
Period end weighted averages:
Remaining lease term (in years)		4.8		5.7		6.3
Discount rate		3.8%		4.0%		4.1%

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

Year ended December 31,	Operating leases
	(in thousands)
2023	$	24,228
2024		19,523
2025		18,645
2026		14,322
2027		6,799
Thereafter		12,039
Total lease payments		95,556
Less imputed interest		(10,006)
Operating lease liability	$	85,550