LEASES

12 Months Ended

Dec. 31, 2024

The Company leases real estate properties for its network of bank branches, financial centers and corporate offices. All of the Company’s leases are currently classified as operating. Most lease agreements include one or more options to renew, with renewal terms that can extend the original lease term from one to twenty years or more. The Company does not receive sublease income from any of its leased real estate properties.

The following table provides information regarding the Company's leases as of the dates indicated:


	Year Ended
	2024			2023
Components of lease expense:
Operating lease cost (resulting from lease payments)	$	10,225		$	10,674




Supplemental cash flow information related to leases:
Operating cash flows from operating leases	$	11,120		$	11,470
ROU assets obtained in the exchange for lease liabilities due to:
New leases	$	1,402		$	703
Acquisitions	$	—		$	—

	As of
	December 31, 2024			December 31, 2023
Supplemental balance sheet information related to leases:
Operating lease ROU assets	$	37,706		$	40,362
Operating lease liabilities	$	44,503		$	48,058

Other information related to leases:
Weighted average remaining lease term of operating leases	4.9 years			5.6 years
Weighted average discount rate of operating leases	3.83		%	3.61		%

ROU assets and lease liabilities are recorded in other assets and other liabilities, respectively, in the Condensed Consolidated Statements of Condition. Operating lease cost is recorded in the occupancy expense of premises in the Condensed Consolidated Statements of Income.

As of December 31, 2024, the maturities of the Company’s operating lease liabilities were as follows:


(In thousands)	Amount
Maturity:
One year	$	11,091
Two years	10,649
Three years	9,232
Four years	7,749
Five years	5,260
Thereafter	4,989
Total undiscounted lease payments	48,970
Less: Present value discount	(4,467)
Lease Liability	$	44,503

The Company had no operating lease that has not yet commenced operations at December 31, 2024. The Company does not have any lease arrangements with any of its related parties as of December 31, 2024