LEASES

12 Months Ended

Dec. 31, 2022

LEASES

LEASES

NOTE 6 — LEASES

The Company leases its corporate office, banking centers and loan production offices. The following tables present the Company’s lease cost and other information related to its operating leases (dollars in thousands):

		At December 31,
		2022
Supplemental balance sheet information:
Lease assets	$	44,339
Lease liabilities	$	48,364
Weighted average remaining lease term in years		11
Weighted average discount rate		2.26	%
		Year Ended
		December 31,
		2022
Operating Lease cost	$	5,405
Cash paid for amount included in the measurement of operating lease liabilities	$	4,864

The following table presents the remaining maturity of lease liabilities as well as the reconciliation of undiscounted lease payments to the discounted operating lease liabilities (in thousands):

		At December 31,
		2022
Lease liabilities maturing in:
2023	$	5,202
2024		4,976
2025		4,990
2026		5,008
2027		4,632
Thereafter		30,276
Total	$	55,084
Less: Present value discount		(6,720)
Total lease liabilities	$	48,364

Total rent expense for the year ended December 31, 2021 and 2020 was $4.9 million and $4.7 million, respectively.