Leases (Tables)
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6 Months Ended |
Jun. 30, 2025 |
Leases [Abstract] |
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Schedule of Information Related to Company's Leases and Lease Expense |
Information related to the Company’s leases is presented below as of June 30, 2025 and December 31, 2024: | | | | | | | | | | | | | | | | | | | | | June 30, | | December 31, | | | | | | Classification | | 2025 | | 2024 | Right-of-use assets: | | | | | | Operating leases | Operating lease right-of-use assets | | $ | 47,764 | | $ | 47,963 | Finance leases | Premises and equipment, net | | 1,090 | | 1,145 | Total right-of-use assets | | | $ | 48,854 | | $ | 49,108 | Lease liabilities: | | | | | | Operating leases | Operating lease liabilities | | $ | 59,289 | | $ | 60,024 | Finance leases | Borrowings | | 1,179 | | 1,229 | Total lease liabilities | | | $ | 60,468 | | $ | 61,253 | Weighted average remaining lease term (in years) - operating | | | 10.7 | | 11.0 | Weighted average remaining lease term (in years) - finance | | | 9.9 | | 10.4 | Weighted average discount rate - operating | | | 3.54 | % | | 3.47 | % | Weighted average discount rate - finance | | | 1.76 | % | | 1.76 | % |
The components of total lease expense included in the consolidated statements of income were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | | June 30, | | June 30, | | Classification | | 2025 | | | 2024 | | | 2025 | | | | 2024 | | | | Operating lease costs: | | | | | | | | | | | | | Amortization of right-of-use asset | Occupancy and equipment | | $ | 1,945 | | | $ | 1,759 | | | $ | 3,823 | | | | $ | 3,686 | | | | Short-term lease cost | Occupancy and equipment | | 74 | | | 89 | | | 159 | | | | 186 | | | | Variable lease cost | Occupancy and equipment | | 475 | | | 367 | | | 969 | | | | 703 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Finance lease costs: | | | | | | | | | | | | | Interest on lease liabilities | Interest expense on borrowings | | 5 | | | 5 | | | 10 | | | | 11 | | | | Amortization of right-of-use asset | Occupancy and equipment | | 28 | | | 27 | | | 55 | | | | 55 | | | | | | | | | | | | | | | | | Sublease income | Occupancy and equipment | | (215) | | | (139) | | | (420) | | | | (311) | | | | Total lease cost | | | $ | 2,312 | | | $ | 2,108 | | | $ | 4,596 | | | | $ | 4,330 | | | |
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Schedule of Maturity Analysis of Operating Lease Liabilities |
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: | | | | | | | | | | | | | Operating | | Finance | | Leases | | Lease | Lease payments due: | | | | June 30, 2026 | $ | 4,330 | | | $ | 61 | | June 30, 2027 | 8,660 | | | 123 | | June 30, 2028 | 8,207 | | | 125 | | June 30, 2029 | 7,259 | | | 127 | | June 30, 2030 | 6,264 | | | 129 | | Thereafter | 37,636 | | | 721 | | Total undiscounted future minimum lease payments | 72,356 | | | 1,286 | | Less: imputed interest | (13,067) | | | (107) | | Lease liabilities | $ | 59,289 | | | $ | 1,179 | |
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Schedule of Maturity Analysis of Finance Lease Liabilities |
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: | | | | | | | | | | | | | Operating | | Finance | | Leases | | Lease | Lease payments due: | | | | June 30, 2026 | $ | 4,330 | | | $ | 61 | | June 30, 2027 | 8,660 | | | 123 | | June 30, 2028 | 8,207 | | | 125 | | June 30, 2029 | 7,259 | | | 127 | | June 30, 2030 | 6,264 | | | 129 | | Thereafter | 37,636 | | | 721 | | Total undiscounted future minimum lease payments | 72,356 | | | 1,286 | | Less: imputed interest | (13,067) | | | (107) | | Lease liabilities | $ | 59,289 | | | $ | 1,179 | |
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