Lease Commitments

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Lease Commitments

Note 11 - Lease Commitments

The Company is the lessee in various noncancellable operating leases for land, buildings, and equipment. Certain leases contain provisions for variable lease payments that are linked to the consumer price index. Lease cost consists of:

	For the Year Ended December 31,
(In thousands)	2024		2023		2022
Operating lease cost	$	10,622	$	10,667	$	8,111
Variable lease cost	3,023		2,827		1,599
Short-term lease cost	556		919		427
Sublease income	(574)		(639)		(704)
Total lease cost	$	13,627	$	13,774	$	9,433

The following table provides supplemental information related to leases:

	As of and For the Year Ended December 31,
(In thousands, except for weighted-average data)	2024			2023
Operating lease right-of-use assets	$	40,935		$	46,772
Operating lease liabilities	44,717			50,545
Cash paid during the year for amounts included in the measurement of operating lease liabilities	10,600			10,005
Right-of-use assets recorded during the year in exchange for new or renewed operating lease obligations	2,815			4,139
Right-of-use assets obtained during the year through bank acquisition	—			3,909
Weighted-average remaining lease term for operating leases	6.4 years			7.0 years
Weighted-average discount rate for operating leases	5.10		%	4.94		%

The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If, at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company includes the extended term in the calculation of the lease liability. Maturities of lease liabilities as of December 31, 2024 are as follows:

(In thousands)	Payments Due
2025	$	10,211
2026	9,023
2027	8,003
2028	6,961
2029	4,727
Thereafter	12,311
Total undiscounted cash flows	51,236
Less: Net present value adjustment	(6,519)
Total	$	44,717