Leases

6 Months Ended

Jun. 30, 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 six 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,
	2025		2024		2025		2024
	(dollars in thousands)
Lease expense:
Operating leases	$	4,033	$	4,004	$	8,035	$	8,035
Short-term leases		82		84		148		168
Sublease income		(378)		(317)		(755)		(742)
Net lease expense included in Occupancy and equipment expense	$	3,737	$	3,771	$	7,428	$	7,461
Other information:
Payments for operating leases	$	5,335	$	4,986	$	10,412	$	9,960
Operating lease right-of-use assets recognized	$	648	$	—	$	1,209	$	—
Period end weighted averages:
Remaining lease term (in years)						3.3		3.9
Discount rate						3.9%		4.0%

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

Twelve months ended June 30,	Operating leases
	(in thousands)
2026	$	17,736
2027		11,276
2028		5,180
2029		4,747
2030		3,385
Thereafter		1,428
Total lease payments		43,752
Less imputed interest		(3,664)
Operating lease liability included in Accounts payable and accrued expenses	$	40,088