LEASES

12 Months Ended

Dec. 31, 2020

Operating lease cost was $16.1 million and $10.0 million for the years ended December 31, 2020 and 2019, respectively. For the years ended December 31, 2020 and 2019, the Company had no sublease income offsetting operating lease cost. Variable rent expense and short-term lease expense were not material for the years ended December 31, 2020 and 2019. Rental expense measured under ASC 840, Leases, amounted to approximately $7.9 million for the year ended December 31, 2018.

The following table presents the impact of leases on the Company's consolidated balance sheets at December 31, 2020 and 2019:


		December 31,
(dollars in thousands)	Location	2020		2019
Operating lease right-of-use assets	Other assets	$	73,688	$	39,321
Operating lease liabilities	Other liabilities	76,837		42,262

Future maturities of the Company's operating lease liabilities are summarized as follows:


(dollars in thousands)
Year Ended December 31,	Lease Liability
2021	$	13,164
2022	10,774
2023	8,629
2024	7,982
2025	6,661
Thereafter	34,691
Total lease payments	$	81,901
Less: Interest	(5,064)
Present value of lease liabilities	$	76,837


(dollars in thousands)	December 31,
Supplemental lease information	2020			2019
Weighted-average remaining lease term (years)	9.2			5.1
Weighted-average discount rate	1.85		%	2.56		%
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases (cash payments)	$	15,976		$	9,910
Operating cash flows from operating leases (lease liability reduction)	$	14,056		$	10,244
Operating lease right-of-use assets obtained in exchange for leases entered into during the year, net of business combinations	$	54,107		$	5,826