| Lease Commitments |
Lease Commitments Our leases relate primarily to office space and bank branches with remaining lease terms of generally 1 to 15 years. Certain lease arrangements contain extension options which typically range from 5 to 10 years at the then fair market rental rates. As these extension options are not generally considered reasonably certain of exercise, they are not included in the lease term. | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | ROU asset on leased property, gross | $ | 65,612 | | | $ | 44,376 | | | Accumulated amortization | (21,025) | | | (17,120) | | | ROU asset, net (included in prepaid expenses and other assets in our consolidated balance sheets) | $ | 44,587 | | | $ | 27,256 | | | Lease liability (included in accrued expenses and other liabilities in our consolidated balance sheets) | $ | 53,166 | | | $ | 29,049 | | | Weighted Average Remaining Life - Operating Leases (years) | 4.74 | | 5.09 | | Weighted Average Rate - Operating Leases | 3.91 | % | | 3.52 | % |
The following table reconciles future undiscounted lease payments due under non-cancelable operating leases to the aggregate operating lessee lease liability as of June 30, 2026: | | | | | | | Remainder of 2026 | $ | 8,067 | | | 2027 | 13,300 | | | 2028 | 13,044 | | | 2029 | 11,141 | | | 2030 | 6,526 | | | | | Thereafter | 7,140 | | | Total undiscounted operating lease liability | 59,218 | | | Imputed interest | 6,052 | | | Total operating lease liability included in the accompanying balance sheet | $ | 53,166 | |
Total lease expense for three months ended June 30, 2026 and 2025 was $3,594 and $2,068, respectively. Total lease expense for the six months ended June 30, 2026 and 2025 was $5,862 and $4,104, respectively. The components of total lease expense were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | For the three months ended June 30, | | For the six months ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Operating leases | $ | 2,894 | | | $ | 2,020 | | | $ | 5,107 | | | $ | 3,990 | | | Short-term leases | 725 | | | 99 | | | 834 | | | 201 | | | | | | | | | | | Sublease income | (25) | | | (51) | | | (79) | | | (87) | | | Net lease expense | $ | 3,594 | | | $ | 2,068 | | | $ | 5,862 | | | $ | 4,104 | |
We do not currently have any significant finance leases in which we are the lessee, material related-party leases, leases containing residual value guarantees or restrictive covenants.
|