LEASES

12 Months Ended

Jun. 30, 2020

The components of lease expense for the year ended June 30, 2020 were:



(Dollars in thousands)
Operating lease expense	$	10,543

Supplemental cash flow information related to leases for the year ended June 30, 2020 was as follows:



(Dollars in thousands)
Cash paid for amounts included in the measurement of lease liabilities for operating leases:
Operating cash flows	$	8,412
ROU assets obtained in the exchange for lease liabilities:
ROU assets obtained in exchange for lease liabilities	$	3,252
ROU assets recognized upon adoption of new lease standard	$	77,794

Supplemental balance sheet information related to leases as of June 30, 2020 was as follows:



(Dollars in thousands)
Operating lease right-of-use assets	$	73,014
Operating lease liabilities	$	76,827
Weighted-average remaining lease term (in years):
Operating leases	9.12 years
Weighted-average discount rate:
Operating leases	2.90		%

The Company adopted ASC 842, Leases on July 1, 2019, using the modified retrospective transition under the option to apply the new standard at its effective date without adjusting the prior period comparative financial statements. As such, disclosures for comparative periods under the predecessor standard, ASC 840, Leases, are required in the year of transition. Future minimum lease payments under ASC 840 as of June 30, 2019, under lease agreements that had commenced as of June 30, 2019. The following table represents maturities of lease liabilities as of June 30, 2020, and undiscounted future minimum lease payments as of June 30, 2019 as follows:



(Dollars in thousands)	June 30, 2020			June 30, 2019
Within one year	$	8,878		$	8,634
After one year and within two years	9,546			8,376
After two years and within three years	9,817			9,035
After three years and within four years	9,420			9,284
After four years and within five years	8,789			9,004
After five years	41,954			47,501
Total lease payments	88,404			91,834
Less: present value discount	(11,577		)	—
Total Lease Liability	$	76,827		$	91,834