Leases

6 Months Ended

Jun. 30, 2021

Leasing

The Company enters into operating leases, as lessee, primarily for office space, banking centers, and certain other operational assets. 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 lease assets and lease liabilities:


	At June 30, 2021
(In thousands)	Operating Leases		Condensed Consolidated Balance Sheet Line Item Location
ROU lease assets	$	126,145	Premises and equipment, net
Lease liabilities	154,461		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)	2021		2020		2021		2020
Lease Cost:
Operating lease costs	$	6,554	$	7,407	$	13,111	$	14,831
Variable lease costs	1,351		1,493		2,651		2,920
Sublease income	(140)		(142)		(271)		(287)
Total operating lease cost	$	7,765	$	8,758	$	15,491	$	17,464
Other Information:
Cash paid for amounts included in the measurement of lease liabilities	$	7,672	$	7,778	$	15,505	$	15,536
ROU lease assets obtained in exchange for new operating lease liabilities	4,160		30		9,558		8,696

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


(In thousands)	At June 30, 2021
Remainder of 2021	$	12,611
2022	28,144
2023	25,900
2024	23,120
2025	21,154
Thereafter	65,902
Total operating lease liability payments	176,831
Less: Present value adjustment	22,370
Lease liabilities	$	154,461

Weighted-average remaining lease term, in years	7.82
Weighted-average discount rate	3.10%

Refer to Note 5: Loans and Leases for information relating to leases included within the equipment financing portfolio in which the Company is the lessor.