Leases Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

The maturities of operating leases are included in the table below.

(in thousands)	Operating Leases(a)
2019 (excluding the three months ended March 31, 2019)	$	4,279
2020	5,034
2021	4,203
2022	3,725
2023	3,406
After 2023	14,878
Total lease payments	$	35,525
Less: Interest(b)	7,719
Present value of lease liabilities	$	27,806

(a) Excludes $2.1 million of legally binding minimum lease payments for operating leases signed but not yet commenced.

(b) Calculated using the interest rate for each lease.

Lease, Cost [Table Text Block]

The following table presents the average lease term and discount rate of operating leases.

	March 31, 2019
Weighted-average remaining lease term	12.1 years
Weighted-average discount rate	3.76	%

Schedule of Supplemental Cash Flow Information Related to Operating Leases [Table Text Block]

Supplemental cash flow information related to operating leases is included in the table below.

	For the Three Months Ended March 31
(in thousands)	2019
Operating cash paid toward lease liabilities	$	1,491
Leased assets obtained in exchange for new lease liabilities	$	1,022

Lessor, Components of Lease Income [Table Text Block]

The following table provides the components of lease income.

	For the Three Months Ended March 31
(in thousands)	2019
Direct financing and sales-type leases	5,862
Operating leases(a)	1,906
Total lease income	$	7,768

(a) Includes rent of $19 thousand from Tower Properties Company, a related party.

Net Investment in Sales-type and Direct Financing Leases [Table Text Block]

The following table presents the components of the net investments in direct financing and sales-type leases.

(in thousands)	March 31, 2019
Lease payment receivable	$	716,103
Unguaranteed residual assets	49,347
Total net investments in direct financing and sales-type leases	$	765,450
Deferred origination cost	3,071
Total net investment included within business loans	$	768,521

Lessor, Schedule of Maturity of Lease Receivables [Table Text Block]

The maturities of lease receivables are included in the table below.

(in thousands)	Direct Financing and Sale-Type Leases		Operating Leases		Total
2019 (excluding the three months ended March 31, 2019)	$	164,086	$	5,555	$	169,641
2020	182,611		7,051		189,662
2021	139,036		6,994		146,030
2022	101,070		13,329		114,399
2023	70,967		5,127		76,094
After 2023	121,057		13,467		134,524
Total lease receipts	778,827		$	51,523	$	830,350
Less: Net present value adjustment	62,724
Present value of lease receipts	$	716,103

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

The Company adopted the new lease standard using the effective date as the date of initial application as noted above, and as required, the table below provides the disclosure for periods prior to adoption. Future minimum lease payments as of December 31, 2018 are shown below, which include leases that have not yet commenced.

(in thousands)
Year Ended December 31	Total
2019	$	5,763
2020	4,817
2021	4,055
2022	3,598
2023	3,273
After	15,161
Total minimum lease payments	$	36,667