Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Components of Equipment Finance Assets

The components of Equipment Finance assets are as follows:

	June 30, 2023		December 31, 2022
Lease receivables	$	120,046	$	137,969
Unguaranteed residual asset values	35,105		39,262
Unearned income	(13,816)		(17,786)
Deferred fees	738		874
Total	$	142,073	$	160,319

Future Minimum Payments to be Received, Fiscal Year Maturity

Future minimum lease payments based on maturity of the Company’s lessor arrangements as of June 30, 2023 were as follows:

2023	$	24,987
2024	40,333
2025	29,078
2026	17,503
2027	7,881
Thereafter	5,539
Total lease payments	$	125,321
Discount effect	(5,275)
Present value of future minimum lease payments	$	120,046

Supplemental Balance Sheet Information

Balance sheet information related to leases was as follows:

ROU Assets and Lease Liabilities	Balance Sheet Classification	June 30, 2023		December 31, 2022
Operating lease assets	Other assets	$	55,436	$	63,872
Operating lease liabilities	Other liabilities	$	68,095	$	77,291

Lease Costs

Components of net lease costs were as follows:

		Three Months Ended June 30,				Six Months Ended June 30,
Net Lease Costs	Income Statement Classification	2023		2022		2023		2022
Operating lease costs	Occupancy	$	(3,334)	$	(4,366)	$	(6,262)	$	(8,846)
Sublease revenue	Other non-interest income	—		1,310		—		2,847
Net lease costs		$	(3,334)	$	(3,056)	$	(6,262)	$	(5,999)

Supplemental Cash Flow Information

Supplemental cash flow information related to the Company’s operating leases was as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Non-cash operating activity:
Leased assets obtained or adjusted in exchange for new, amended, and modified operating lease liabilities	$	—	$	—	$	(4,664)	$	—

Future Minimum Undiscounted Lease Payments

The Company’s future minimum undiscounted lease payments under operating leases as of June 30, 2023 were as follows:

	Operating Lease Payments
2023	$	6,434
2024	12,798
2025	13,129
2026	11,710
2027	10,987
Thereafter	27,238
Total lease payments	$	82,296
Discount effect	(14,201)
Present value of future minimum lease payments	$	68,095

Weighted-average Remaining Lease Term and Discount Rate

The weighted-average remaining lease term and discount rate used in the calculation of the Company’s operating lease assets and liabilities were as follows:

Lease Term and Discount Rate	June 30, 2023
Weighted-average remaining lease term (in years)	6.7
Weighted-average discount rate	5.39	%