v3.26.1
LEASES (Tables)
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Lessee, Summary of Right-of-Use Assets and Lease Liabilities
The following table summarizes operating lease ROU assets and operating lease liabilities and their corresponding balance sheet location:
(amounts in thousands)ClassificationMarch 31, 2026December 31, 2025
ASSETS
Operating lease ROU assetsOther assets$33,003 $34,347 
LIABILITIES
Operating lease liabilitiesOther liabilities$40,327 $41,719 
Lease, Cost
The following table summarizes operating lease cost and its corresponding income statement location for the periods presented:
Three Months Ended March 31,
(amounts in thousands)Classification20262025
Operating lease cost (1)
Occupancy expenses$1,846 $1,949 
(1) There were no variable lease costs for the three months ended March 31, 2026 and 2025, and sublease income for operating leases was immaterial.
Maturities of Non-cancelable Operating Lease Liabilities
Maturities of non-cancelable operating lease liabilities were as follows at March 31, 2026:
(amounts in thousands)March 31, 2026
2026$5,785 
20277,810 
20287,527 
20296,591 
20304,958 
Thereafter14,643 
Total minimum payments47,314 
Less: interest
6,987 
Present value of lease liabilities$40,327 
Summary of Lease Term and Discount Rate for Operating Leases
The following table summarizes the weighted average remaining lease term and discount rate for Customers’ operating leases at March 31, 2026 and December 31, 2025:
March 31, 2026December 31, 2025
Weighted average remaining lease term (years)
Operating leases7.2 years7.4 years
Weighted average discount rate
Operating leases4.20 %4.20 %
Lessor, Lease Receivables and Investment in Operating Leases and their Corresponding Balance Sheet Location
The following table summarizes lease receivables and investment in operating leases and their corresponding balance sheet location at March 31, 2026 and December 31, 2025:
(amounts in thousands)ClassificationMarch 31, 2026December 31, 2025
ASSETS
Direct financing and sales-type leases
Lease receivablesLoans and leases receivable$313,823 $301,753 
Guaranteed residual assetsLoans and leases receivable27,052 26,859 
Unguaranteed residual assetsLoans and leases receivable11,287 11,788 
Deferred initial direct costsLoans and leases receivable1,732 1,717 
Unearned incomeLoans and leases receivable(36,961)(35,575)
Net investment in direct financing and sales-type leases
$316,933 $306,542 
Operating leases
Investment in operating leasesOther assets$412,104 $407,987 
Accumulated depreciationOther assets(116,578)(105,706)
Deferred initial direct costsOther assets1,009 1,094 
Net investment in operating leases296,535 303,375 
Total lease assets$613,468 $609,917 
Sales-type and Direct Financing Leases, Lease Receivable, Maturity
Maturities of operating and direct financing and sales-type lease receivables were as follows at March 31, 2026:
(amounts in thousands)Operating leases
Direct financing and sales-type leases
2026$58,500 $74,030 
202751,959 76,658 
202842,505 57,806 
202931,879 45,331 
203019,175 29,354 
Thereafter11,650 30,644 
Total minimum payments$215,668 313,823 
Less: interest36,961 
Present value of lease receivables$276,862 
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity
Maturities of operating and direct financing and sales-type lease receivables were as follows at March 31, 2026:
(amounts in thousands)Operating leases
Direct financing and sales-type leases
2026$58,500 $74,030 
202751,959 76,658 
202842,505 57,806 
202931,879 45,331 
203019,175 29,354 
Thereafter11,650 30,644 
Total minimum payments$215,668 313,823 
Less: interest36,961 
Present value of lease receivables$276,862