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Lease Investments
6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Lease Investments Lease Investments
As a lessor, the Company’s loan and lease portfolio includes direct finance leases, which are included in Commercial and Agricultural, Solar, Auto and Light Truck, Medium and Heavy Duty Truck, Aircraft, and Construction Equipment on the Consolidated Statements of Financial Condition. The Company also finances various types of construction equipment, medium and heavy duty trucks, automobiles and other equipment under leases classified as operating leases, which are included in Equipment Owned Under Operating Leases, net, on the Consolidated Statements of Financial Condition.
The following table shows interest income recognized from direct finance lease payments and operating lease equipment rental income and related depreciation expense.
Three Months Ended
June 30,
Six Months Ended
June 30,
(Dollars in thousands)2022202120222021
Direct finance leases:
Interest income on lease receivable$1,929 $1,661 $3,710 $3,251 
Operating leases:
Income related to lease payments$3,295 $4,255 $6,957 $8,884 
Depreciation expense2,664 3,550 5,679 7,323 
Income related to reimbursements from lessees for personal property tax on operating leased equipment for the three months ended June 30, 2022 and 2021 was $0.03 million and $0.14 million, respectively and for the six months ended June 30, 2022 and 2021 was $0.23 million and $0.38 million, respectively. Expense related to personal property tax payments on operating leased equipment for the three months ended June 30, 2022 and 2021 was $0.03 million and $0.14 million, respectively and for the six months ended June 30, 2022 and 2021 was $0.23 million and $0.38 million.