v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases Leases
A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. The Company’s leases are comprised of real estate property for branches, automated teller machine locations and office space with terms extending through 2038. The Company has one existing finance lease, which has a lease term through 2029.
The following table represents the classification of the Company’s ROU assets and lease liabilities on the Consolidated Statements of Financial Condition (in thousands):
June 30,December 31,
20262025
Lease ROU Assets
Classification
Operating lease ROU assets
Other assets$65,330 $17,596 
Finance lease ROU asset
Premises and equipment, net722 838 
Total lease ROU assets
$66,052 $18,434 
Lease Liabilities
Operating lease liabilities (1)
Other liabilities$71,067 $19,037 
Finance lease liabilityOther borrowings997 1,143 
Total lease liabilities$72,064 $20,180 
(1) Operating lease liabilities excludes liabilities for future rent and estimated lease termination payments related to closed branches of $754,000 and $897,000 at June 30, 2026 and December 31, 2025, respectively.
The following table represents the weighted-average remaining lease term and weighted-average discount rate for the Company’s operating and finance leases:
June 30,December 31,
20262025
Weighted-Average Remaining Lease Term
Operating leases6.68 years5.82 years
Finance lease3.10 years3.59 years
Weighted-Average Discount Rate
Operating leases4.29 %3.57 %
Finance lease5.63 5.63 
The following table represents lease expenses and other lease information (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Lease Expense
Operating lease expense$2,123 $1,227 $3,379 $2,430 
Finance lease expense:
Amortization of ROU assets
58 58 116 116 
Interest on lease liabilities (1)
14 19 30 38 
Total$2,195 $1,304 $3,525 $2,584 
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$2,094 $1,316 $3,437 $2,605 
Operating cash flows from finance leases14 19 30 38 
Financing cash flows from finance leases73 69 145 137 
(1)Included in borrowed funds interest expense on the Consolidated Statements of Income. All other costs are included in occupancy expense on the Consolidated Statements of Income.
Future minimum payments for the finance lease and operating leases with initial or remaining terms were as follows (in thousands):
Finance LeaseOperating Leases
For the Year Ending December 31,
2026$175 $7,474 
2027350 14,759 
2028350 13,707 
2029209 12,377 
2030— 8,366 
Thereafter— 25,632 
Total1,084 82,315 
Less: Imputed interest(87)(11,248)
Total lease liabilities$997 $71,067 
Leases Leases
A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. The Company’s leases are comprised of real estate property for branches, automated teller machine locations and office space with terms extending through 2038. The Company has one existing finance lease, which has a lease term through 2029.
The following table represents the classification of the Company’s ROU assets and lease liabilities on the Consolidated Statements of Financial Condition (in thousands):
June 30,December 31,
20262025
Lease ROU Assets
Classification
Operating lease ROU assets
Other assets$65,330 $17,596 
Finance lease ROU asset
Premises and equipment, net722 838 
Total lease ROU assets
$66,052 $18,434 
Lease Liabilities
Operating lease liabilities (1)
Other liabilities$71,067 $19,037 
Finance lease liabilityOther borrowings997 1,143 
Total lease liabilities$72,064 $20,180 
(1) Operating lease liabilities excludes liabilities for future rent and estimated lease termination payments related to closed branches of $754,000 and $897,000 at June 30, 2026 and December 31, 2025, respectively.
The following table represents the weighted-average remaining lease term and weighted-average discount rate for the Company’s operating and finance leases:
June 30,December 31,
20262025
Weighted-Average Remaining Lease Term
Operating leases6.68 years5.82 years
Finance lease3.10 years3.59 years
Weighted-Average Discount Rate
Operating leases4.29 %3.57 %
Finance lease5.63 5.63 
The following table represents lease expenses and other lease information (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Lease Expense
Operating lease expense$2,123 $1,227 $3,379 $2,430 
Finance lease expense:
Amortization of ROU assets
58 58 116 116 
Interest on lease liabilities (1)
14 19 30 38 
Total$2,195 $1,304 $3,525 $2,584 
Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$2,094 $1,316 $3,437 $2,605 
Operating cash flows from finance leases14 19 30 38 
Financing cash flows from finance leases73 69 145 137 
(1)Included in borrowed funds interest expense on the Consolidated Statements of Income. All other costs are included in occupancy expense on the Consolidated Statements of Income.
Future minimum payments for the finance lease and operating leases with initial or remaining terms were as follows (in thousands):
Finance LeaseOperating Leases
For the Year Ending December 31,
2026$175 $7,474 
2027350 14,759 
2028350 13,707 
2029209 12,377 
2030— 8,366 
Thereafter— 25,632 
Total1,084 82,315 
Less: Imputed interest(87)(11,248)
Total lease liabilities$997 $71,067