Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

Leasing

The Company enters into leases, as lessee, primarily for office space, banking centers, and certain other operational assets. These leases are generally classified as operating leases, however, an insignificant amount are classified as finance leases. The Company's operating leases generally have lease terms for periods of 5 to 20 years with various renewal options. The Company does not have any material sub-lease agreements.

The following table summarizes lessee information related to the Company’s operating ROU assets and lease liability:

	At June 30, 2020
(In thousands)	Operating Leases		Consolidated Balance Sheet Line Item Location
ROU lease assets	$	151,805	Premises and equipment, net
Lease liabilities	170,731		Operating lease liabilities

The components of operating lease cost and other related information are as follows:

	At or for the three months ended June 30,				At or for the six months ended June 30,
(In thousands)	2020		2019		2020		2019
Lease Cost:
Operating lease costs	$	7,407	$	7,487	$	14,831	$	14,872
Variable lease costs	1,493		1,068		2,920		2,321
Sublease income	(142)		(155)		(287)		(295)
Total operating lease cost	$	8,758	$	8,400	$	17,464	$	16,898
Other Information:
Cash paid for amounts included in the measurement of lease liabilities	$	7,778	$	7,738	$	15,536	$	15,411
ROU lease assets obtained in exchange for new operating lease liabilities	30		6,296		8,696		12,934

The undiscounted scheduled maturities reconciled to total operating lease liabilities are as follows:

(In thousands)	At June 30, 2020
Remainder of 2020	$	13,089
2021	30,955
2022	27,803
2023	24,880
2024	21,432
Thereafter	79,784
Total operating lease liability payments	197,943
Less: Present value adjustment	27,212
Lease liabilities	$	170,731
Weighted-average remaining lease term - operating leases, in years	8.24
Weighted-average discount rate - operating leases	3.26		%

See Note 4: Loans and Leases for information relating to leases included within the equipment financing portfolio in which the Company is lessor.