Leases (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Components of lease expense

The Company’s lease expense is recorded in premises and occupancy expense in the consolidated statements of income. The following table presents the components of lease expense for the periods indicated:

	Three Months Ended				Nine Months Ended
	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019
	(Dollars in thousands)
Operating lease	$	5,618	2,879		$	12,690	$	8,403
Short-term lease	495		575		1,425		1,893
Total lease expense	$	6,113	$	3,454	$	14,115	$	10,296

Schedule of supplemental information

The following table presents supplemental information related to operating leases as of and for nine months ended:

	September 30, 2020		December 31, 2019
	(Dollars in thousands)
Balance Sheet:
Operating lease right of use assets	$	81,150	$	43,177
Operating lease liabilities	91,202		46,498
	Nine Months Ended
	September 30, 2020		September 30, 2019
	(Dollars in thousands)
Cash Flows:
Operating cash flows from operating leases	$	10,946	$	8,786

Schedule of minimum contractual lease payments and other information

The following table provides information related to minimum contractual lease payments and other information associated with the Company’s leases as of the dates indicated:

	2020		2021		2022		2023		2024		Thereafter		Total
	(Dollars in thousands)
As of September 30, 2020
Operating leases	$	5,559	$	21,839	$	20,222	$	18,667	$	16,138	$	23,503	$	105,928
Short-term leases	74		47		—		—		—		—		121
Total contractual base rents (1)	$	5,633	$	21,886	$	20,222	$	18,667	$	16,138	$	23,503	$	106,049
Total liability to make lease payments													$	91,202
Difference in undiscounted and discounted future lease payments													$	14,847
Weighted average discount rate													5.70		%
Weighted average remaining lease term (years)													5.4

	2020		2021		2022		2023		2024		Thereafter		Total
	(Dollars in thousands)
As of December 31, 2019
Operating leases	$	10,138	$	10,602	$	10,137	$	9,055	$	7,318	$	7,265	$	54,515
Short-term leases	143		7		—		—		—		—		150
Total contractual base rents (1)	$	10,281	$	10,609	$	10,137	$	9,055	$	7,318	$	7,265	$	54,665
Total liability to make lease payments													$	46,498
Difference in undiscounted and discounted future lease payments													$	8,167
Weighted average discount rate													6.13		%
Weighted average remaining lease term (years)													5.4

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(1) Contractual base rents reflect options to extend and renewals, and do not include property taxes and other operating expenses due under respective lease agreements.