Lease Obligations (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Schedule of Future Minimum Lease Liability

The following summary reflects the future minimum payments by year required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year and a reconciliation of those payments to the Company's lease liability as of September 30, 2020.

Lease Liability

(Dollar amounts in thousands)

	As of    September 30, 2020
Year Ending December 31,
2020	$	4,770
2021	18,888
2022	18,813
2023	18,920
2024	18,611
2025 and thereafter	104,380
Total minimum lease payments	184,382
Discount(1)	(27,223)
Lease liability(2)	$	157,159

(1)Represents the net present value adjustment related to minimum lease payments.

(2)Included in accrued interest payable and other liabilities in the Consolidated Statements of Financial Condition.

Schedule of Net Operating Lease Expense

The following table presents net operating lease expense for the quarters and nine months ended September 30, 2020 and 2019.

Net Operating Lease Expense

(Dollar amounts in thousands)

	Quarters Ended   September 30,				Nine Months Ended   September 30,
	2020		2019		2020		2019
Lease expense charged to operations	$	4,739	$	4,467	$	14,253	$	12,953
Rental income from premises leased to others (1)	(158)		(203)		(556)		(525)
Net operating lease expense	$	4,581	$	4,264	$	13,697	$	12,428

(1)Included as reductions to net occupancy and equipment expense in the Condensed Consolidated Statements of Income.