Leases

3 Months Ended

Mar. 31, 2025

Leases

Leases

Note 13—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 March 31,
	2025		2024
	(dollars in thousands)
Lease expense:
Operating leases	$	4,002	$	4,031
Short-term leases		66		84
Sublease income		(377)		(425)
Net lease expense included in Occupancy and equipment expense	$	3,691	$	3,690
Other information:
Payments for operating leases	$	5,077	$	4,974
Operating lease right-of-use assets recognized	$	561	$	—
Quarter end weighted averages:
Remaining lease term (in years)		3.4		4.1
Discount rate		3.9%		3.8%

Lease payment obligations attributable to the Company’s operating lease liabilities are summarized below:

Twelve months ended March 31,	Operating leases
	(in thousands)
2026	$	19,109
2027		13,352
2028		5,765
2029		5,009
2030		3,506
Thereafter		2,284
Total lease payments		49,025
Less imputed interest		(4,653)
Operating lease liability included in Accounts payable and accrued expenses	$	44,372