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Leasing (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Summary of Net Investments The following table summarizes the components of the Company's net investment in its sales-type and direct financing leases:
At December 31,
(In thousands)20222021
Lease receivables$330,690$196,632
Unguaranteed residual values100,36819,748
Total net investment$431,058$216,380
Summary of Net Investment Maturity The following table reconciles undiscounted future lease payments to the total sales-type and direct financing leases' net investment:
(In thousands)At December 31, 2022
2023$146,858
202491,592
202574,522
202671,950
202727,029
Thereafter56,598
Total lease payments receivable468,549
Present value adjustment(37,491)
Total net investment$431,058
Schedule of Components of Leveraged Lease Investments The following table summarizes the Company's ROU lease assets and operating lease liabilities:
At December 31,
(In thousands)Consolidated Balance Sheet Line Item20222021
ROU lease assets Premises and equipment, net$191,068$119,926
Operating lease liabilitiesAccrued expenses and other liabilities239,281144,804
Lease, Cost
The following table summarizes the components of operating lease expense and other relevant information:
At or for the Years ended December 31,
(In thousands)202220212020
Lease Cost:
Operating and variable lease costs$44,654$30,936$35,916
Sublease income(1,383)(554)(557)
Total operating lease expense$43,271$30,382$35,359
Other Information:
Cash paid for amounts included in the measurement of operating lease liabilities$44,767$30,487$31,212
ROU lease assets obtained in exchange for operating lease liabilities (1)
27,89715,2269,211
Weighted-average remaining lease term (in years)7.727.508.04
Weighted-average discount rate2.65  %3.04  %3.19  %
(1)Excludes ROU lease assets acquired from Sterling in the merger.
Lessee, Operating Lease, Liability, Maturity The following table reconciles undiscounted future lease payments to total operating lease liabilities:
(In thousands)At December 31, 2022
2023$40,614
202440,808
202536,274
202632,696
202727,201
Thereafter91,369
Total operating lease payments268,962
Present value adjustment(29,681)
Total operating lease liabilities$239,281