Leases (Tables)

6 Months Ended

Jun. 30, 2020

The following table presents operating lease costs recognized for the three and six months ended June 30, 2020 and 2019 which are included in occupancy and equipment costs on the condensed consolidated income statements:



(Expressed in thousands)
	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2020		2019		2020		2019
Operating lease costs:
Real estate leases - Right-of-use lease asset amortization	$	5,724	$	5,712	$	11,464	$	12,044
Real estate leases - Interest expense	3,844		4,204		7,755		7,647
Equipment leases - Right-of-use lease asset amortization	474		474		947		939
Equipment leases - Interest expense	52		57		106		114

The following table presents the weighted average lease term and weighted average discount rate for our operating leases as of June 30, 2020 and December 31, 2019:



	As of
	June 30, 2020	December 31, 2019

Weighted average remaining lease term (in years)	8.13	8.31
Weighted average discount rate	7.48%	7.89%

Schedule of Maturities of Lease Liabilities

The maturities of lease liabilities as of June 30, 2020 and December 31, 2019 are as follows:



(Expressed in thousands)
	As of
	June 30, 2020			December 31, 2019
2020	$	21,171		$	42,585
2021	39,465			37,531
2022	35,476			33,416
2023	32,691			31,187
2024	28,604			27,234
After 2025	115,290			108,098
Total lease payments	$	272,697		$	280,051
Less interest	(70,669		)	(76,911		)
Present value of lease liabilities	$	202,028		$	203,140