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LEASES (Tables)
 9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Lease, Cost
The components of operating lease cost were as follows:
Three months endedNine months ended
(Dollars in thousands)September 30, 2020September 30, 2019September 30, 2020September 30, 2019
Operating lease cost (1)
$4,723 $5,596 $14,224 $14,610 
Sublease income(93)(105)(279)(381)
Net lease cost$4,630 $5,491 $13,945 $14,229 
(1)Includes variable lease cost and short-term lease cost.
Balance Sheet Information
Supplemental balance sheet information related to operating leases was as follows:
(Dollars in thousands)September 30, 2020December 31, 2019
Assets
Right of use assets$154,007 $166,221 
Total assets$154,007 $166,221 
Liabilities
Lease liabilities$169,058 $181,814 
Total liabilities$169,058 $181,814 
Lease term and discount rate
Weighted average remaining lease term (in years)19.3719.06
Weighted average discount rate4.25 %4.17 %
Lease Maturity
Maturities of operating lease liabilities were as follows:
(Dollars in thousands)September 30, 2020
Remaining in 2020$4,359 
202117,110 
202217,074 
202317,192 
202416,017 
After 2024195,793 
Total lease payments267,545 
Less: Interest(98,487)
Present value of lease liabilities$169,058 
(Dollars in thousands)December 31, 2019
2020$18,591 
202118,314 
202218,315 
202318,525 
202417,390 
After 2024197,203 
Total lease payments288,338 
Less: Interest(106,524)
Present value of lease liabilities$181,814 
Supplemental Cash Flow information Lessee
Supplemental cash flow information related to operating leases was as follows:
Nine months ended
(Dollars in thousands)September 30, 2020September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$13,915 $12,564 
Right of use assets obtained in exchange for new operating lease liabilities (non-cash)— 61,693 
Direct Financing Lease
The components of direct finance lease income are summarized in the table below:
Three months endedNine months ended
(Dollars in thousands)September 30, 2020September 30, 2019September 30, 2020September 30, 2019
Direct financing leases:
Interest income on lease receivable$3,965 $2,048 $11,344 $5,826 
Interest income on deferred fees and costs117 63 304 326 
Total direct financing lease income$4,082 $2,111 $11,648 $6,152 

Equipment leasing receivables relate to direct financing leases. The composition of the net investment in direct financing leases was as follows:
(Dollars in thousands)September 30, 2020December 31, 2019
Lease receivables$257,519 $217,076 
Unearned income(33,430)(28,446)
Deferred fees and costs3,450 1,962 
Net investment in direct financing leases$227,539 $190,592 
Lessor, Operating Lease, Payments to be Received, Maturity
Future minimum lease payments to be received for direct financing leases were as follows:

(Dollars in thousands)September 30, 2020
Remaining in 2020$21,770 
202180,291 
202264,172 
202347,661 
202430,874 
After 202412,751 
Total lease payments$257,519 

(Dollars in thousands)December 31, 2019
2020$71,067 
202158,337 
202242,274 
202328,628 
202414,450 
After 20242,320 
Total lease payments$217,076