v3.26.3
LEASES (Tables)
 9 Months Ended
Sep. 30, 2026
Leases [Abstract]  
Schedule of Lease Cost
The components of operating lease cost were as follows:
Three months endedNine months ended
(Dollars in thousands)September 30, 2026September 30, 2025September 30, 2026September 30, 2025
Operating lease cost (1)
$3,590 $3,919 $11,297 $12,547 
Sublease income(27)(27)(81)(78)
Net lease cost$3,563 $3,892 $11,216 $12,469 
(1)Includes variable lease cost and short-term lease cost.
Schedule of Balance Sheet Information
Supplemental information related to operating leases was as follows:
(Dollars in thousands)September 30, 2026December 31, 2025
Right-of-use assets$92,793 $102,891 
Lease liabilities$115,642 $125,288 
Lease term and discount rate
Weighted average remaining lease term (in years)10.9511.35
Weighted average discount rate5.17 %5.26 %
Schedule of Lease Maturities
Maturities of operating lease liabilities were as follows:
(Dollars in thousands)September 30, 2026
Remaining in 2026$4,303 
202715,221 
202814,718 
202912,687 
203012,423 
After 203093,758 
Total lease payments153,110 
Less: Interest37,468 
Present value of lease liabilities$115,642 
Schedule of Supplemental Cash Flow Information
Supplemental cash flow information related to operating leases was as follows:
Three months endedNine months ended
(Dollars in thousands)September 30, 2026September 30, 2025September 30, 2026September 30, 2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$4,173 $4,901 $12,540 $14,368 
Schedule of Direct Financing Leases
The components of direct finance lease income are summarized in the table below:
Three months endedNine months ended
(Dollars in thousands)September 30, 2026September 30, 2025September 30, 2026September 30, 2025
Direct financing leases:
Interest income on lease receivables$14,618 $15,893 $44,215 $48,173 
Interest income on deferred fees and costs, net(2,023)(2,307)(6,210)(6,853)
Total direct financing lease net interest income$12,595 $13,586 $38,005 $41,320 
Equipment leasing receivables relate to direct financing leases. The composition of the net investment in direct financing leases was as follows:
(Dollars in thousands)September 30, 2026December 31, 2025
Lease receivables$684,472 $695,125 
Unearned income(107,362)(109,667)
Deferred fees and costs16,002 17,863 
Net investment in direct financing leases$593,112 $603,321