LEASES (Tables)

12 Months Ended

Dec. 31, 2023

LEASES

Schedule of components of lease costs

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,
		2023			2022
Supplemental balance sheet information:
Lease assets	$	42,245		$	44,339
Lease liabilities	$	46,430		$	48,364
Weighted average remaining lease term in years		10.5			11.2
Weighted average discount rate		2.44	%		2.26	%
Components of lease cost:
Operating lease cost	$	5,290		$	5,405
Supplemental cash flow information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	5,191		$	4,864
Non-cash activity related to lease assets:
Lease assets obtained from new operating lease liabilities	$	2,036		$	—

Schedule of remaining maturity of lease liabilities as well as the reconciliation of undiscounted lease payments to the discounted operating lease liabilities

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,
		2023		2022
Lease liabilities maturing in:
2024	$	5,012	$	5,202
2025		5,257		4,976
2026		5,274		4,990
2027		4,899		5,008
2028		4,486		4,632
Thereafter		27,953		30,276
Total	$	52,881	$	55,084
Less: Present value discount		(6,451)		(6,720)
Total lease liabilities	$	46,430	$	48,364