Leases (Tables)

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Schedule of Operating Lease Terms

The following table presents information regarding the Corporation’s operating leases:

	Mar 31, 2025		Dec 31, 2024
Weighted average discount rate	5.27	%	3.80	%
Range of lease expiration dates	1 month - 22 years		4 months - 23 years
Range of lease renewal options	1 year - 15 years		1 year - 5 years
Weighted average remaining lease term	13.7 years		12.6 years

Schedule of Remaining Operating Lease Payments, Inclusive of Renewal Options

The following table presents the undiscounted annual lease payments under the terms of the Corporation’s operating leases at March 31, 2025, including a reconciliation to the present value of operating lease liabilities recognized in the Consolidated Balance Sheets:

(Dollars in thousands)
April 1, 2025 to December 31, 2025	$3,582
2026	4,554
2027	4,029
2028	3,707
2029	3,597
2030 and thereafter	35,641
Total operating lease payments	55,110
Less: interest	16,394
Present value of operating lease liabilities (1)	$38,716

(1)Includes short-term operating lease liabilities of $2.9 million.

Schedule of Total Lease Expense

The following table presents the components of total lease expense and operating cash flows:

(Dollars in thousands)
Three months ended March 31,	2025	2024
Lease Expense:
Operating lease expense	$1,271	$1,123
Variable lease expense	45	40
Total lease expense (1)	$1,316	$1,163
Cash Paid:
Cash paid reducing operating lease liabilities	$1,239	$1,165

(1)Included in net occupancy expenses in the Consolidated Statements of Income.