Leases

12 Months Ended

Dec. 31, 2024

Leases

Leases

Note 13—Leases

The Company has operating lease agreements relating to its office facilities. The Company’s operating lease agreements have remaining terms ranging from less than one year to six 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 operating lease right-of-use assets included in Other assets and leasing activity is summarized below:

	Year ended December 31,
	2024		2023		2022
	(dollars in thousands)
Lease expense:
Operating leases	$	15,870	$	18,782	$	19,779
Short-term leases		303		436		778
Sublease income		(1,405)		(902)		(46)
Net lease expense included in Occupancy and equipment expense	$	14,768	$	18,316	$	20,511
Other information:
Payments for operating leases	$	20,118	$	24,026	$	23,475
Operating lease right-of-use assets recognized	$	1,388	$	2,893	$	1,364
Period end weighted averages:
Remaining lease term (in years)		3.6		4.3		4.8
Discount rate		4.0%		3.8%		3.8%

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

Year ended December 31,	Operating leases
	(in thousands)
2025	$	19,698
2026		14,590
2027		7,050
2028		5,065
2029		3,922
Thereafter		3,141
Total lease payments		53,466
Less imputed interest		(5,024)
Operating lease liability included in Accounts payable and accrued expenses	$	48,442