Right-Of-Use Assets and Lease Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Finance and Operating Lease Details

The following table presents our lease expense for finance and operating leases for the years ended December 31:

(dollars in thousands)	2022		2021		2020
Operating lease expense	$	5,169	$	5,135	$	5,711
Amortization of ROU assets - finance leases	179		224		224
Interest on lease liabilities - finance leases	65		74		84
Total Lease Expense	$	5,413	$	5,433	$	6,019
(1) Included in occupancy expense in our Consolidated Statements of Net Income. (2) Included in borrowings interest expense in our Consolidated Statements of Net Income.

The following table presents our ROU assets, weighted average term and the discount rates for finance and operating leases as of December 31:

(dollars in thousands)	2022			2021
Operating Leases
ROU assets	$	43,089		$	44,067
Operating cash flows	$	6,826		$	6,570
Finance Leases
ROU assets	$	876		$	1,055
Operating cash flows	$	65		$	74
Financing cash flows	$	160		$	194
Weighted Average Lease Term - Years
Operating leases	17.9			18.9
Finance leases	12.7			12.4
Weighted Average Discount Rate
Operating leases	5.83		%	5.82		%
Finance leases	6.01		%	5.91		%

Finance and Operating Lease Details

The following table presents our lease expense for finance and operating leases for the years ended December 31:

(dollars in thousands)	2022		2021		2020
Operating lease expense	$	5,169	$	5,135	$	5,711
Amortization of ROU assets - finance leases	179		224		224
Interest on lease liabilities - finance leases	65		74		84
Total Lease Expense	$	5,413	$	5,433	$	6,019
(1) Included in occupancy expense in our Consolidated Statements of Net Income. (2) Included in borrowings interest expense in our Consolidated Statements of Net Income.

The following table presents our ROU assets, weighted average term and the discount rates for finance and operating leases as of December 31:

(dollars in thousands)	2022			2021
Operating Leases
ROU assets	$	43,089		$	44,067
Operating cash flows	$	6,826		$	6,570
Finance Leases
ROU assets	$	876		$	1,055
Operating cash flows	$	65		$	74
Financing cash flows	$	160		$	194
Weighted Average Lease Term - Years
Operating leases	17.9			18.9
Finance leases	12.7			12.4
Weighted Average Discount Rate
Operating leases	5.83		%	5.82		%
Finance leases	6.01		%	5.91		%

Maturity Analysis of Lease Liabilities for Operating Leases

The following table presents the maturity analysis of lease liabilities for finance and operating leases as of December 31, 2022:

(dollars in thousands)
Maturity Analysis	Finance		Operating			Total
2023	$	129		$	4,924	$	5,053
2024	130			4,831		4,961
2025	132			4,891		5,023
2026	133			4,781		4,914
2027	134			4,539		4,673
Thereafter	877			59,960		60,837
Total	1,535			83,926		85,461
Less: Present value discount	(496)			(34,229)		(34,725)
Lease Liabilities	$	1,039		$	49,697	$	50,736

Maturity Analysis of Lease Liabilities for Finance Leases

The following table presents the maturity analysis of lease liabilities for finance and operating leases as of December 31, 2022:

(dollars in thousands)
Maturity Analysis	Finance		Operating			Total
2023	$	129		$	4,924	$	5,053
2024	130			4,831		4,961
2025	132			4,891		5,023
2026	133			4,781		4,914
2027	134			4,539		4,673
Thereafter	877			59,960		60,837
Total	1,535			83,926		85,461
Less: Present value discount	(496)			(34,229)		(34,725)
Lease Liabilities	$	1,039		$	49,697	$	50,736