Leases (Tables)

3 Months Ended

Mar. 31, 2020

Operating and finance lease costs and cash flows resulting from these leases are presented below:


($ in Thousands)	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Operating Lease Costs	$	2,623	$	2,905
Finance Lease Costs	36		—
Operating Lease Cash Flows	2,731		2,809
Finance Lease Cash Flows	21		—

Components of lease expense

The lease classifications on the consolidated balance sheets were as follows:


		March 31, 2020		December 31, 2019
($ in Thousands)	Consolidated Balance Sheets Category	Amount
Operating lease right-of-use asset	Premises and equipment	$	43,321	$	45,381
Finance lease right-of-use asset	Other assets	2,174		2,188
Operating lease liability	Accrued expenses and other liabilities	47,136		49,292
Finance lease liability	Other long-term funding	2,210		2,209

Operating lease information

The lease payment obligations, weighted-average remaining lease term, and weighted-average discount rate were as follows:


	March 31, 2020								December 31, 2019
($ in Thousands)	Lease payments		Weighted-average lease term (in years)	Weighted-average discount rate		Lease payments		Weighted-average lease term (in years)	Weighted-average discount rate
Operating leases
Equipment	$	37	0.81	2.72	%	$	46	0.83	2.72	%
Retail and corporate offices	46,476		6.37	3.34	%	48,940		6.49	3.34	%
Land	6,533		9.32	3.20	%	6,594		9.57	3.21	%
Total operating leases	$	53,046	6.71	3.33	%	$	55,580	6.83	3.32	%
Finance leases
Land	$	4,805	39.42	3.99	%	$	4,827	39.67	3.99	%
Total finance leases	$	4,805	39.42	3.99	%	$	4,827	39.67	3.99	%

Amortization of operating lease liabilities

Contractual lease payment obligations for each of the next five years and thereafter, in addition to a reconciliation to the Corporation’s lease liability, were as follows:


($ in Thousands)	Operating Leases		Finance Leases		Amount
Nine Months Ending December 31, 2020	$	7,992	$	64	$	8,056
2021	10,203		85		10,288
2022	7,914		85		7,999
2023	5,696		85		5,781
2024	5,058		88		5,147
Beyond 2024	16,183		4,398		20,581
Total lease payments	53,046		4,805		57,851
Less: interest	5,910		2,595		8,506
Present value of lease payments	$	47,136	$	2,210	$	49,345