LEASES (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Leases [Abstract] |
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| Schedule of Lease Cost |
The components of operating lease cost were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Six months ended | | (Dollars in thousands) | | June 30, 2026 | | June 30, 2025 | | June 30, 2026 | | June 30, 2025 | Operating lease cost (1) | | $ | 3,782 | | | $ | 4,211 | | | $ | 7,707 | | | $ | 8,628 | | | Sublease income | | (27) | | | (26) | | | (54) | | | (51) | | | Net lease cost | | $ | 3,755 | | | $ | 4,185 | | | $ | 7,653 | | | $ | 8,577 | |
(1)Includes variable lease cost and short-term lease cost.
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| Schedule of Balance Sheet Information |
Supplemental information related to operating leases was as follows: | | | | | | | | | | | | | | | | (Dollars in thousands) | | June 30, 2026 | | December 31, 2025 | | | | | | | Right-of-use assets | | $ | 94,194 | | | $ | 102,891 | | | | | | | | | | | | | | | | | | Lease liabilities | | $ | 117,747 | | | $ | 125,288 | | | | | | | | | | | | | Lease term and discount rate | | | | | | | | | | | Weighted average remaining lease term (in years) | | 11.13 | | 11.35 | | | | | | | Weighted average discount rate | | 5.17 | % | | 5.26 | % |
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| Schedule of Lease Maturities |
Maturities of operating lease liabilities were as follows: | | | | | | | | | | (Dollars in thousands) | | June 30, 2026 | | Remaining in 2026 | | $ | 8,555 | | | 2027 | | 15,081 | | | 2028 | | 14,621 | | | 2029 | | 12,610 | | | 2030 | | 12,345 | | | After 2030 | | 93,194 | | | Total lease payments | | 156,406 | | | Less: Interest | | (38,659) | | | Present value of lease liabilities | | $ | 117,747 | | | | | | | |
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| Schedule of Supplemental Cash Flow Information |
Supplemental cash flow information related to operating leases was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Six months ended | | (Dollars in thousands) | | June 30, 2026 | | June 30, 2025 | | June 30, 2026 | | June 30, 2025 | | Cash paid for amounts included in the measurement of lease liabilities: | | | | | | | | | | Operating cash flows from operating leases | | $ | 4,415 | | | $ | 4,754 | | | $ | 8,367 | | | $ | 9,467 | | | | | | | | | | |
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| Schedule of Direct Financing Leases |
The components of direct finance lease income are summarized in the table below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Six months ended | | (Dollars in thousands) | | June 30, 2026 | | June 30, 2025 | | June 30, 2026 | | June 30, 2025 | | Direct financing leases: | | | | | | | | | | Interest income on lease receivables | | $ | 14,631 | | | $ | 16,068 | | | $ | 29,597 | | | $ | 32,280 | | | Interest income on deferred fees and costs, net | | (2,072) | | | (2,293) | | | (4,187) | | | (4,546) | | | Total direct financing lease net interest income | | $ | 12,559 | | | $ | 13,775 | | | $ | 25,410 | | | $ | 27,734 | |
Equipment leasing receivables relate to direct financing leases. The composition of the net investment in direct financing leases was as follows: | | | | | | | | | | | | | | | | (Dollars in thousands) | | June 30, 2026 | | December 31, 2025 | | Lease receivables | | $ | 673,310 | | | $ | 695,125 | | | Unearned income | | (105,316) | | | (109,667) | | | Deferred fees and costs | | 16,181 | | | 17,863 | | | Net investment in direct financing leases | | $ | 584,175 | | | $ | 603,321 | |
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