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Operating Leases (Tables)
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Schedule of Operating Lease Expense
The following table details the Corporation’s ROU assets and related lease liabilities as of December 31, 2020 and 2019:

 As of December 31,
(dollars in thousands)20202019
Operating lease right-of-use assets
$34,601 $40,961 
Operating lease liabilities
40,284 45,258 

The components of lease expense were as follows:
Year Ended December 31,
(dollars in thousands)20202019
Operating lease expense$4,773 $5,295 
Short term lease expense59 59 
Variable lease expense1,295 1,795 
Sublease income(36)(32)
Total lease expense$6,091 $7,117 

The Corporation performs impairment assessments for ROU assets when events or changes in circumstances indicate that their carrying values may not be recoverable. In addition to the lease costs disclosed in the table above, during the fourth quarter of 2020, the Corporation recognized a $1.5 million impairment loss for an ROU asset related to a planned branch closure. The recognized loss was recorded within Impairment of long-lived-assets on the Consolidated Statement of Income.

Supplemental cash flow information related to leases was as follows:
Year Ended December 31,
(dollars in thousands)20202019
Cash paid for amounts included in the measurement of lease liabilities:
   Operating cash flows from operating leases$4,705 $5,174 
ROU assets obtained in exchange for lease liabilities— 44,609 
Reductions to ROU assets resulting from reductions to lease obligations(1,818)— 
Lessee, Operating Lease, Liability, Maturity
Maturities of operating lease liabilities under FASB ASC 842 “Leases” as of December 31, 2020 are as follows:
(dollars in thousands)December 31, 2020
2021$4,176 
20223,924 
20233,771 
20243,793 
20253,859 
2026 and thereafter32,548 
Total lease payments52,071 
Less: imputed interest11,787 
Present value of operating lease liabilities$40,284