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LEASES (Tables)
 9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Schedule of Lease Cost
The components of operating lease cost were as follows:
Three months endedNine months ended
(Dollars in thousands)September 30, 2023September 30, 2022September 30, 2023September 30, 2022
Operating lease cost (1)
$3,077 $4,900 $12,593 $15,289 
Sublease income(37)(51)(118)(222)
Net lease cost$3,040 $4,849 $12,475 $15,067 
(1)Includes variable lease cost and short-term lease cost.
Schedule of Balance Sheet Information Supplemental information related to operating leases was as follows:
(Dollars in thousands)September 30, 2023December 31, 2022
Right-of-use assets$127,020 $138,182 
Lease liabilities$147,102 $158,269 
Lease term and discount rate
Weighted average remaining lease term (in years)12.8217.91
Weighted average discount rate5.18 %4.25 %
Schedule of Lease Maturities Maturities of operating lease liabilities were as follows:
(Dollars in thousands)September 30, 2023
Remaining in 2023$4,652 
202417,259 
202517,014 
202616,176 
202714,865 
After 2027135,220 
Total lease payments205,186 
Less: Interest(58,084)
Present value of lease liabilities$147,102 
Schedule of Supplemental Cash Flow Information Supplemental cash flow information related to operating leases was as follows:
Three months endedNine months ended
(Dollars in thousands)September 30, 2023September 30, 2022September 30, 2023September 30, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$4,041 $5,196 $14,235 $15,911 
Right of use assets obtained in exchange for new operating lease liabilities (non-cash)— — — 13,707 
Schedule of Direct Financing Leases
The components of direct finance lease income are summarized in the table below:
Three months endedNine months ended
(Dollars in thousands)September 30, 2023September 30, 2022September 30, 2023September 30, 2022
Direct financing leases:
Interest income on lease receivable$13,682 $10,822 $39,200 $30,885 
Interest income on deferred fees and costs, net(1,643)(925)(4,479)(2,422)
Total direct financing lease net interest income$12,039 $9,897 $34,721 $28,463 
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, 2023December 31, 2022
Lease receivables$698,729 $642,369 
Unearned income(108,629)(95,683)
Deferred fees and costs15,598 12,295 
Net investment in direct financing leases$605,698 $558,981