v3.26.1
LEASES (Tables)
 6 Months Ended
Jun. 30, 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)ClassificationJune 30, 2026December 31, 2025
ASSETS
Operating lease ROU assetsOther assets$32,096 $34,347 
LIABILITIES
Operating lease liabilitiesOther liabilities$39,218 $41,719 
Lease, Cost
The following table summarizes operating lease cost and its corresponding income statement location for the periods presented:
Three Months Ended June 30,Six Months Ended June 30,
(amounts in thousands)Classification2026202520262025
Operating lease cost (1)
Occupancy expenses$1,753 $1,877 $3,599 $3,826 
(1) There were no variable lease costs for the three and six months ended June 30, 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 June 30, 2026:
(amounts in thousands)June 30, 2026
2026$3,868 
20277,827 
20287,526 
20296,590 
20304,980 
Thereafter14,643 
Total minimum payments45,434 
Less: interest
6,216 
Present value of lease liabilities$39,218 
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 June 30, 2026 and December 31, 2025:
June 30, 2026December 31, 2025
Weighted average remaining lease term (years)
Operating leases7.0 years7.4 years
Weighted average discount rate
Operating leases4.21 %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 June 30, 2026 and December 31, 2025:
(amounts in thousands)ClassificationJune 30, 2026December 31, 2025
ASSETS
Direct financing and sales-type leases
Lease receivablesLoans and leases receivable$324,767 $301,753 
Guaranteed residual assetsLoans and leases receivable28,619 26,859 
Unguaranteed residual assetsLoans and leases receivable10,748 11,788 
Deferred initial direct costsLoans and leases receivable1,809 1,717 
Unearned incomeLoans and leases receivable(40,060)(35,575)
Net investment in direct financing and sales-type leases
$325,883 $306,542 
Operating leases
Investment in operating leasesOther assets$423,130 $407,987 
Accumulated depreciationOther assets(122,018)(105,706)
Deferred initial direct costsOther assets1,017 1,094 
Net investment in operating leases302,129 303,375 
Total lease assets$628,012 $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 June 30, 2026:
(amounts in thousands)Operating leases
Direct financing and sales-type leases
2026$29,478 $47,490 
202753,848 81,861 
202844,491 65,306 
202933,862 52,658 
203021,166 35,207 
Thereafter14,099 42,245 
Total minimum payments$196,944 324,767 
Less: interest40,060 
Present value of lease receivables$284,707 
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 June 30, 2026:
(amounts in thousands)Operating leases
Direct financing and sales-type leases
2026$29,478 $47,490 
202753,848 81,861 
202844,491 65,306 
202933,862 52,658 
203021,166 35,207 
Thereafter14,099 42,245 
Total minimum payments$196,944 324,767 
Less: interest40,060 
Present value of lease receivables$284,707