Leases (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Schedule of Lease Cost

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

	As of
	September 30, 2020	December 31, 2019
Weighted average remaining lease term (in years)	8.01	8.31
Weighted average discount rate	7.46%	7.89%

The following table presents operating lease costs recognized for the three and nine months ended September 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 September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
Operating lease costs:
Real estate leases - Right-of-use lease asset amortization	$	5,862	$	5,696	$	17,326	$	17,740
Real estate leases - Interest expense	3,720		4,145		11,475		11,792
Equipment leases - Right-of-use lease asset amortization	473		462		1,421		1,401
Equipment leases - Interest expense	48		57		153		171

Schedule of Maturities of Lease Liabilities

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

(Expressed in thousands)
	As of
	September 30, 2020		December 31, 2019
2020	$	10,171	$	42,585
2021	39,729		37,531
2022	35,707		33,416
2023	32,819		31,187
2024	28,604		27,234
After 2025	115,290		108,098
Total lease payments	$	262,320	$	280,051
Less interest	(66,972)		(76,911)
Present value of lease liabilities	$	195,348	$	203,140