v3.25.2
Leases (Tables)
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Schedule of Operating Lease Terms
The following table presents information regarding the Corporation’s operating leases:
Jun 30, 2025Dec 31, 2024
Weighted average discount rate5.30%3.80%
Range of lease expiration dates
4 months - 22 years
4 months - 23 years
Range of lease renewal options
3 years - 15 years
1 year - 5 years
Weighted average remaining lease term
13.4 years12.6 years
Schedule of Remaining Operating Lease Payments, Inclusive of Renewal Options
The following table presents the undiscounted annual lease payments under the terms of the Corporation’s operating leases at June 30, 2025, including a reconciliation to the present value of operating lease liabilities recognized in the Consolidated Balance Sheets:
(Dollars in thousands)
July 1, 2025 to December 31, 2025$2,554 
20264,712 
20274,029 
20283,707 
20293,597 
2030 and thereafter35,641 
Total operating lease payments54,240 
Less: interest15,941 
Present value of operating lease liabilities (1)
$38,299 
(1)Includes short-term operating lease liabilities of $3.2 million.
Schedule of Total Lease Expense
The following table presents the components of total lease expense and operating cash flows:
(Dollars in thousands)Three MonthsSix Months
Periods ended June 30, 2025202420252024
Lease Expense:
Operating lease expense$1,356 $1,124 $2,627 $2,247 
Variable lease expense50 41 96 81 
Total lease expense (1)
$1,406 $1,165 $2,723 $2,328 
Cash Paid:
Cash paid reducing operating lease liabilities$1,303 $1,120 $2,541 $2,285 
(1)Included in net occupancy expenses in the Consolidated Statements of Income.