Leases

9 Months Ended

Sep. 30, 2020

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 September 30, 2020
(In thousands)	Operating Leases		Consolidated Balance Sheet Line Item Location
ROU lease assets	$	146,641	Premises and equipment, net
Lease liabilities	165,211		Operating lease liabilities

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


	At or for the three months ended September 30,				At or for the nine months ended September 30,
(In thousands)	2020		2019		2020		2019
Lease Cost:
Operating lease costs	$	7,381	$	7,512	$	22,212	$	22,384
Variable lease costs	1,297		1,292		4,217		3,613
Sublease income	(141)		(142)		(428)		(437)
Total operating lease cost	$	8,537	$	8,662	$	26,001	$	25,560
Other Information:
Cash paid for amounts included in the measurement of lease liabilities	$	7,823	$	7,938	$	23,359	$	23,349
ROU lease assets obtained in exchange for new operating lease liabilities	856		9,983		9,552		22,917

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


(In thousands)	At September 30, 2020
Remainder of 2020	$	5,274
2021	30,604
2022	27,099
2023	24,187
2024	21,307
Thereafter	82,710
Total operating lease liability payments	191,181
Less: Present value adjustment	25,970
Lease liabilities	$	165,211

Weighted-average remaining lease term - operating leases, in years	8.23
Weighted-average discount rate - operating leases	3.22%

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