LEASES (Tables)

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Schedule of Lease Cost

The components of operating lease cost were as follows:

	Three months ended
(Dollars in thousands)	March 31, 2024		March 31, 2023
Operating lease cost (1)	$	3,972	$	4,793
Sublease income	(32)		(49)
Net lease cost	$	3,940	$	4,744

(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)	March 31, 2024			December 31, 2023
Right-of-use assets	$	129,996		$	130,601
Lease liabilities	$	151,255		$	151,596
Lease term and discount rate
Weighted average remaining lease term (in years)	12.86			13.01
Weighted average discount rate	5.2		%	5.2		%

Schedule of Lease Maturities

Maturities of operating lease liabilities were as follows:

(Dollars in thousands)	March 31, 2024
Remaining in 2024	$	13,564
2025	17,747
2026	16,912
2027	15,536
2028	15,538
After 2028	130,975
Total lease payments	210,272
Less: Interest	(59,017)
Present value of lease liabilities	$	151,255

Schedule of Supplemental Cash Flow Information

Supplemental cash flow information related to operating leases was as follows:

	Three months ended
(Dollars in thousands)	March 31, 2024		March 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	4,721	$	5,060

Schedule of Direct Financing Leases

The components of direct finance lease income are summarized in the table below:

	Three months ended
(Dollars in thousands)	March 31, 2024		March 31, 2023
Direct financing leases:
Interest income on lease receivable	$	14,800	$	12,382
Interest income on deferred fees and costs, net	(1,792)		(1,386)
Total direct financing lease net interest income	$	13,008	$	10,996

Equipment leasing receivables relate to direct financing leases. The composition of the net investment in direct financing leases was as follows:

(Dollars in thousands)	March 31, 2024		December 31, 2023
Lease receivables	$	733,630	$	721,338
Unearned income	(118,177)		(114,341)
Deferred fees and costs	18,350		16,625
Net investment in direct financing leases	$	633,803	$	623,622