Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Schedule of Lease Related Assets and Liabilities

The following table presents the lease related assets and liabilities recorded on the Consolidated Balance Sheet as of June 30, 2019:

($ in thousands)	Classification on the Consolidated Balance Sheet	June 30, 2019
Assets:
Operating lease assets	Operating lease right-of use assets	$	109,032
Finance lease assets	Premises and equipment	8,144
Total lease assets		$	117,176
Liabilities:
Operating lease liabilities	Operating lease liabilities	$	117,448
Finance lease liabilities	Long-term debt and finance lease liabilities	5,540
Total lease liabilities		$	122,988

Schedule of Lease Costs

The following table presents the components of lease expense for operating and finance leases during the three and six months ended June 30, 2019:

($ in thousands)	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Operating lease cost	$	8,770		$	17,750
Finance lease cost:
Amortization of right-of-use assets	280			482
Interest on lease liabilities	41			87
Variable lease cost	32			62
Sublease income	(49		)	(81		)
Net lease cost	$	9,074		$	18,300

Schedule of Supplemental Lease Information

The following table presents the supplemental cash flow information related to leases during the three and six months ended June 30, 2019:

($ in thousands)	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8,806	$	17,981
Operating cash flows from finance leases	$	41	$	87
Financing cash flows from finance leases	$	218	$	435
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$	11,489	$	15,167
Financing leases	$	226	$	226

The following table presents the weighted average remaining lease terms and discount rates related to leases as of June 30, 2019:

	June 30, 2019
Weighted-average remaining lease term (in years):
Operating leases	4.7
Finance leases	15.9
Weighted-average discount rate:
Operating leases	3.19	%
Finance leases	2.99	%

Schedule of Finance Leases, Undiscounted Cash Flow Maturities

The following table presents a maturity analysis of the Company’s operating and finance lease liabilities as of June 30, 2019:

($ in thousands)	Operating Leases			Finance Leases
Remainder of 2019	$	17,575		$	519
2020	32,208			1,035
2021	27,642			1,030
2022	17,843			690
2023	10,807			402
Thereafter	20,614			3,462
Total minimum lease payments	$	126,689		$	7,138
Less: imputed interest	(9,241		)	(1,598		)
Present value of lease liabilities	$	117,448		$	5,540

Schedule of Operating Leases, Undiscounted Cash Flow Maturities

The following table presents a maturity analysis of the Company’s operating and finance lease liabilities as of June 30, 2019:

($ in thousands)	Operating Leases			Finance Leases
Remainder of 2019	$	17,575		$	519
2020	32,208			1,035
2021	27,642			1,030
2022	17,843			690
2023	10,807			402
Thereafter	20,614			3,462
Total minimum lease payments	$	126,689		$	7,138
Less: imputed interest	(9,241		)	(1,598		)
Present value of lease liabilities	$	117,448		$	5,540

Schedule of Net Investment of Direct Financing and Sales-type Leases

The following table presents the components of the net investment in direct financing and sales-type leases as of June 30, 2019:

($ in thousands)	June 30, 2019
Lease receivables	$	138,752
Unguaranteed residual assets	14,580
Net investment in direct financing and sales-type leases	$	153,332

Schedule of Future Minimum Lease Payments Expected To Be Received Under The Direct Financing And Sales-Type Leases

The following table presents future minimum lease payments that are expected to be received under the direct financing and sales-type leases as of June 30, 2019:

($ in thousands)	Direct Financing and Sales-Type Leases
Remainder of 2019	$	14,038
2020	27,566
2021	25,584
2022	18,190
2023	11,995
Thereafter	20,342
Total minimum lease payments	$	117,715
Less: imputed interest	(11,917		)
Present value of lease receivables	$	105,798