Leases

9 Months Ended

Sep. 30, 2019

Leases

Leases

Note 7 — Leases

As of September 30, 2019, we had operating ROU assets of $89.9 million and operating lease liabilities of $91.0 million. We maintain operating leases on land and buildings for our operating centers, branch facilities and ATM locations. Most leases include one or more options to renew, with renewal terms extending up to 25 years. The exercise of renewal options is based on the sole judgment of management and what they consider to be reasonably certain given the environment today. Factors in determining whether an option is reasonably certain of exercise include, but are not

limited to, the value of leasehold improvements, the value of renewal rate compared to market rates, and the presence of factors that would cause a significant economic penalty to us if the option is not exercised. Leases with an initial term of 12 months or less are not recorded on the balance sheet and instead are recognized in lease expense on a straight-line basis over the lease term. We do not sublease any portion of these locations to third parties.

	Three Months Ended		Nine Months Ended
(Dollars in thousands)	September 30,		September 30,
	2019		2019
Lease Expense Components:
Operating lease expense	$	2,241	$	6,560
Short-term lease expense		120		396
Variable lease expense		151		337
Total lease expense	$	2,512	$	7,293
Supplemental Cash Flow and Other Information Related to Leases:
Cash paid for amounts included in the measurement of lease liabilities - operating leases	$	1,996	$	5,804
Initial ROU assets recorded in exchange for new lease liabilities - operating leases	$	5,289	$	10,239
Weighted - average remaining lease term (years) - operating leases				14.30
Weighted - average discount rate - operating leases				3.9%
			September 30,
			2019
Supplemental Balance Sheet Information Related to Leases
Operating lease ROU assets (premises and equipment)			$	89,905
Operating lease liabilities (other liabilities)			$	91,039
Maturity Analysis of Lease Liabilities:
Year Ending December 31,
2019 (excluding the nine months ended September 30, 2019)			$	2,279
2020				7,887
2021				8,359
2022				8,475
2023				8,548
Thereafter				85,009
Total				120,557
Less: Imputed Interest				(29,518)
Lease Liability			$	91,039

As of September 30, 2019, we did not maintain any finance leases, leases with related parties, and we determined that the number and dollar amount of our equipment leases was immaterial. As of September 30, 2019, we have no additional operating leases that have not yet commenced. Disclosures for prior periods under the previous accounting guidance were on an annual basis only, therefore are not included for the September 30, 2019 interim reporting period.