LEASES (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Schedule of Operating and Finance Lease Liabilities

Leases	Classification	June 30, 2024		December 31, 2023
Assets:
Operating lease assets	Operating lease assets	$	35,066	$	35,699
Finance lease assets	Premises and equipment, net (1)	179		215
Total leased assets		$	35,245	$	35,914
Liabilities:
Operating lease liabilities	Operating lease liabilities	$	37,194	$	37,650
Finance lease liabilities	Accrued interest payable and other liabilities	247		294
Total leased liabilities		$	37,441	$	37,944

(1) Finance lease assets are recorded net of accumulated amortization of $1.0 million as of June 30, 2024 and $1.0 million as of December 31, 2023.

Schedule of Lease Cost

The components of the Corporation's net lease expense for the three and six months ended June 30, 2024 and 2023, respectively, were as follows:

		Three Months Ended June 30,				Six Months Ended June 30,
Lease Cost	Classification	2024		2023		2024		2023
Operating lease cost	Net occupancy expense	$	736	$	782	$	1,478	$	1,479
Variable lease cost	Net occupancy expense	29		22		56		44
Finance lease cost:
Amortization of leased assets	Net occupancy expense	18		18		36		36
Interest on lease liabilities	Interest expense - borrowed funds	3		4		6		8
Sublease income (1)	Net occupancy expense	(24)		(23)		(48)		(46)
Net lease cost		$	762	$	803	$	1,528	$	1,521

(1) Sublease income excludes rental income from owned properties.

Schedule of Finance Lease, Liability, Maturity

The following table sets forth future minimum rental payments under noncancellable leases with initial terms in excess of one year as of June 30, 2024:

Maturity of Lease Liabilities as of June 30, 2024	Operating Leases (1)		Finance Leases		Total
2024	$	1,238	$	52	$	1,290
2025	2,543		105		2,648
2026	2,533		105		2,638
2027	2,526		—		2,526
2028	2,582		—		2,582
After 2028	47,938		—		47,938
Total lease payments	59,360		262		59,622
Less: Interest	22,166		15		22,181
Present value of lease liabilities	$	37,194	$	247	$	37,441

(1) Operating lease payments include payments related to options to extend lease terms that are reasonably certain of being exercised and exclude $14.9 million of legally binding minimum lease payments for leases signed, but not yet commenced.

Schedule of Minimum Annual Rental Commitments Under Operating Lease

The following table sets forth future minimum rental payments under noncancellable leases with initial terms in excess of one year as of June 30, 2024:

Maturity of Lease Liabilities as of June 30, 2024	Operating Leases (1)		Finance Leases		Total
2024	$	1,238	$	52	$	1,290
2025	2,543		105		2,648
2026	2,533		105		2,638
2027	2,526		—		2,526
2028	2,582		—		2,582
After 2028	47,938		—		47,938
Total lease payments	59,360		262		59,622
Less: Interest	22,166		15		22,181
Present value of lease liabilities	$	37,194	$	247	$	37,441

(1) Operating lease payments include payments related to options to extend lease terms that are reasonably certain of being exercised and exclude $14.9 million of legally binding minimum lease payments for leases signed, but not yet commenced.

Schedule of Weighted Average Lease Term and Discount Rate

Lease terms and discount rates related to the Corporation's lease liabilities as of June 30, 2024 and December 31, 2023 were as follows:

Lease Term and Discount Rate	June 30, 2024		December 31, 2023
Weighted-average remaining lease term (years)
Operating leases	22.6		23.0
Finance leases	2.5		3.0
Weighted-average discount rate
Operating leases	4.06	%	4.05	%
Finance leases	4.49	%	4.49	%

Other information related to the Corporation's lease liabilities as of June 30, 2024 and 2023, respectively, was as follows:

Other Information	June 30, 2024		June 30, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	535	$	603