Leases (Tables)

3 Months Ended

Mar. 31, 2021

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
	March 31, 2021		December 31, 2020		March 31, 2020
	(Dollars in thousands)
Operating lease	$	5,012	$	5,375	3,164
Short-term lease	507		607		527
Total lease expense	$	5,519	$	5,982	$	3,691

Schedule of supplemental information

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

	March 31, 2021		December 31, 2020
	(Dollars in thousands)
Balance Sheet:
Operating lease right of use assets	$	70,417	$	76,090
Operating lease liabilities	79,441		85,556
	Three Months Ended
	March 31, 2021		March 31, 2020
	(Dollars in thousands)
Cash Flows:
Operating cash flows from operating leases	$	2,000	$	2,257

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:

	2021		2022		2023		2024		2025		Thereafter		Total
	(Dollars in thousands)
As of March 31, 2021
Operating leases	$	14,778	$	18,682	$	18,051	$	16,076	$	11,014	$	13,039	$	91,640
Short-term leases	180		7		—		—		—		—		187
Total contractual base rents (1)	$	14,958	$	18,689	$	18,051	$	16,076	$	11,014	$	13,039	$	91,827
Total liability to make lease payments													$	79,441
Difference in undiscounted and discounted future lease payments													$	12,386
Weighted average discount rate													5.70		%
Weighted average remaining lease term (years)													5.3

______________________________

(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.