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LEASES (Tables)
 9 Months Ended
Sep. 30, 2024
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, 2024September 30, 2023September 30, 2024September 30, 2023
Operating lease cost (1)
$4,308 $3,077 $12,732 $12,593 
Sublease income(30)(37)(90)(118)
Net lease cost$4,278 $3,040 $12,642 $12,475 
(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, 2024December 31, 2023
Right-of-use assets$134,342 $130,601 
Lease liabilities$157,309 $151,596 
Lease term and discount rate
Weighted average remaining lease term (in years)12.7313.01
Weighted average discount rate5.26 %5.20 %
Schedule of Lease Maturities
Maturities of operating lease liabilities were as follows:
(Dollars in thousands)September 30, 2024
Remaining in 2024$4,721 
202518,730 
202617,985 
202716,584 
202816,601 
After 2028145,256 
Total lease payments219,877 
Less: Interest(62,568)
Present value of lease liabilities$157,309 
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, 2024September 30, 2023September 30, 2024September 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$4,999 $4,041 $14,482 $14,235 
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, 2024September 30, 2023September 30, 2024September 30, 2023
Direct financing leases:
Interest income on lease receivable$16,051 $13,682 $46,665 $39,200 
Interest income on deferred fees and costs, net(2,034)(1,643)(5,715)(4,479)
Total direct financing lease net interest income$14,017 $12,039 $40,950 $34,721 
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, 2024December 31, 2023
Lease receivables$747,886 $721,338 
Unearned income(122,591)(114,341)
Deferred fees and costs20,126 16,625 
Net investment in direct financing leases$645,421 $623,622