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LEASES (Tables)
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Schedule of Operating and Finance Lease Liabilities
LeasesClassificationSeptember 30, 2024December 31, 2023
Assets:
Operating lease assetsOperating lease assets$37,419 $35,699 
Finance lease assets
Premises and equipment, net (1)
161 215 
Total leased assets$37,580 $35,914 
Liabilities:
Operating lease liabilitiesOperating lease liabilities$39,683 $37,650 
Finance lease liabilitiesAccrued interest payable and other liabilities224 294 
Total leased liabilities$39,907 $37,944 
(1) Finance lease assets are recorded net of accumulated amortization of $1.1 million as of September 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 nine months ended September 30, 2024 and 2023, respectively, were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
Lease CostClassification2024202320242023
Operating lease costNet occupancy expense$757 $745 $2,235 $2,224 
Variable lease costNet occupancy expense27 27 83 71 
Finance lease cost:
Amortization of leased assetsNet occupancy expense18 18 54 54 
Interest on lease liabilitiesInterest expense - borrowed funds3 4 9 12 
Sublease income (1)
Net occupancy expense(24)(20)(72)(66)
Net lease cost$781 $774 $2,309 $2,295 
(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 September 30, 2024:
Maturity of Lease Liabilities as of September 30, 2024
Operating Leases (1)
Finance LeasesTotal
2024$660 $26 $686 
20252,679 105 2,784 
20262,668 105 2,773 
20272,688 — 2,688 
20282,744 —2,744 
After 202853,142 —53,142 
Total lease payments64,581 236 64,817 
Less: Interest24,898 12 24,910 
Present value of lease liabilities$39,683 $224 $39,907 
(1) Operating lease payments include payments related to options to extend lease terms that are reasonably certain of being exercised and exclude $12.3 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 September 30, 2024:
Maturity of Lease Liabilities as of September 30, 2024
Operating Leases (1)
Finance LeasesTotal
2024$660 $26 $686 
20252,679 105 2,784 
20262,668 105 2,773 
20272,688 — 2,688 
20282,744 —2,744 
After 202853,142 —53,142 
Total lease payments64,581 236 64,817 
Less: Interest24,898 12 24,910 
Present value of lease liabilities$39,683 $224 $39,907 
(1) Operating lease payments include payments related to options to extend lease terms that are reasonably certain of being exercised and exclude $12.3 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 September 30, 2024 and December 31, 2023 were as follows:
Lease Term and Discount RateSeptember 30, 2024December 31, 2023
Weighted-average remaining lease term (years)
Operating leases23.023.0
Finance leases2.33.0
Weighted-average discount rate
Operating leases4.18 %4.05 %
Finance leases4.49 %4.49 %

Other information related to the Corporation's lease liabilities as of September 30, 2024 and 2023, respectively, was as follows:
Other InformationSeptember 30, 2024September 30, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$789 $869