v3.25.2
Leases
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Leases Leases
As of June 30, 2025, the Company was the lessee in 47 operating leases and 1 finance lease of certain branch, mortgage and operations locations with original terms greater than one year.
Many leases include options to renew, with terms that can extend the lease up to an additional 20 years or more. Certain lease agreements contain provisions to periodically adjust rental payments for inflation. Renewal options that management is reasonably certain to renew and fixed rent escalations are included in the right-of-use asset and lease liability.
Information related to the Company’s leases is presented below as of June 30, 2025 and December 31, 2024:
June 30,December 31,
Classification20252024
Right-of-use assets:
Operating leasesOperating lease right-of-use assets$47,764$47,963
Finance leasesPremises and equipment, net1,0901,145
Total right-of-use assets$48,854$49,108
Lease liabilities:
Operating leasesOperating lease liabilities$59,289$60,024
Finance leasesBorrowings 1,1791,229
Total lease liabilities $60,468$61,253
Weighted average remaining lease term (in years) -
    operating		10.711.0
Weighted average remaining lease term (in years) -
    finance		9.910.4
Weighted average discount rate - operating3.54 %3.47 %
Weighted average discount rate - finance1.76 %1.76 %
The components of total lease expense included in the consolidated statements of income were as follows:
Three Months EndedSix Months Ended
June 30,June 30,
Classification2025 2024 2025 2024 
Operating lease costs:
Amortization of right-of-use assetOccupancy and equipment$1,945 $1,759 $3,823 $3,686 
Short-term lease costOccupancy and equipment74 89 159 186 
Variable lease costOccupancy and equipment475 367 969 703 
Finance lease costs:
Interest on lease liabilitiesInterest expense on borrowings5 5 10 11 
Amortization of right-of-use assetOccupancy and equipment28 27 55 55 
Sublease income Occupancy and equipment(215)(139)(420)(311)
Total lease cost$2,312 $2,108 $4,596 $4,330 
The Company does not separate lease and non-lease components and instead elects to account for them as a single lease component. Variable lease cost primarily represents variable payments such as common area maintenance, utilities, and property taxes.
A maturity analysis of operating and finance lease liabilities and a reconciliation of cash flows to lease liabilities as of June 30, 2025 is as follows:
OperatingFinance
Leases Lease
Lease payments due:
June 30, 2026$4,330 $61 
June 30, 20278,660 123 
June 30, 20288,207 125 
June 30, 20297,259 127 
June 30, 20306,264 129 
Thereafter37,636 721 
     Total undiscounted future minimum lease payments72,356 1,286 
Less: imputed interest(13,067)(107)
     Lease liabilities$59,289 $1,179 
Leases Leases
As of June 30, 2025, the Company was the lessee in 47 operating leases and 1 finance lease of certain branch, mortgage and operations locations with original terms greater than one year.
Many leases include options to renew, with terms that can extend the lease up to an additional 20 years or more. Certain lease agreements contain provisions to periodically adjust rental payments for inflation. Renewal options that management is reasonably certain to renew and fixed rent escalations are included in the right-of-use asset and lease liability.
Information related to the Company’s leases is presented below as of June 30, 2025 and December 31, 2024:
June 30,December 31,
Classification20252024
Right-of-use assets:
Operating leasesOperating lease right-of-use assets$47,764$47,963
Finance leasesPremises and equipment, net1,0901,145
Total right-of-use assets$48,854$49,108
Lease liabilities:
Operating leasesOperating lease liabilities$59,289$60,024
Finance leasesBorrowings 1,1791,229
Total lease liabilities $60,468$61,253
Weighted average remaining lease term (in years) -
    operating		10.711.0
Weighted average remaining lease term (in years) -
    finance		9.910.4
Weighted average discount rate - operating3.54 %3.47 %
Weighted average discount rate - finance1.76 %1.76 %
The components of total lease expense included in the consolidated statements of income were as follows:
Three Months EndedSix Months Ended
June 30,June 30,
Classification2025 2024 2025 2024 
Operating lease costs:
Amortization of right-of-use assetOccupancy and equipment$1,945 $1,759 $3,823 $3,686 
Short-term lease costOccupancy and equipment74 89 159 186 
Variable lease costOccupancy and equipment475 367 969 703 
Finance lease costs:
Interest on lease liabilitiesInterest expense on borrowings5 5 10 11 
Amortization of right-of-use assetOccupancy and equipment28 27 55 55 
Sublease income Occupancy and equipment(215)(139)(420)(311)
Total lease cost$2,312 $2,108 $4,596 $4,330 
The Company does not separate lease and non-lease components and instead elects to account for them as a single lease component. Variable lease cost primarily represents variable payments such as common area maintenance, utilities, and property taxes.
A maturity analysis of operating and finance lease liabilities and a reconciliation of cash flows to lease liabilities as of June 30, 2025 is as follows:
OperatingFinance
Leases Lease
Lease payments due:
June 30, 2026$4,330 $61 
June 30, 20278,660 123 
June 30, 20288,207 125 
June 30, 20297,259 127 
June 30, 20306,264 129 
Thereafter37,636 721 
     Total undiscounted future minimum lease payments72,356 1,286 
Less: imputed interest(13,067)(107)
     Lease liabilities$59,289 $1,179