Contingent Liabilities, Commitments, and Financial Instruments with Off-Balance-Sheet Risk (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Operating lease right of use assets and operating lease liabilities

The following table shows operating lease right of use assets and operating lease liabilities as of December 31.

(Dollars in thousands)	Statement of Financial Condition classification	2022		2021
Operating lease right of use assets	Accrued income and other assets	$	20,916	$	22,071
Operating lease liabilities	Accrued expenses and other liabilities	$	19,634	$	21,364

Components of operating lease expense

The following table shows the components of operating leases expense for the year ended December 31.

(Dollars in thousands)	Statement of Income classification	2022		2021		2020
Operating lease cost	Net occupancy expense	$	3,527	$	3,480	$	3,472
Short-term lease cost	Net occupancy expense	18		20		8
Variable lease cost (recovery of cost)	Net occupancy expense	8		—		(30)
Total operating lease cost		$	3,553	$	3,500	$	3,450

Future minimum rental commitments for noncancellable operating leases

The following table shows future minimum rental commitments for all noncancellable operating leases with an initial term longer than 12 months for the next five years and thereafter.

(Dollars in thousands)
2023	$	3,862
2024	3,281
2025	2,913
2026	2,620
2027	2,091
Thereafter	6,398
Total lease payments	21,165
Less: imputed interest	(1,531)
Present value of operating lease liabilities	$	19,634

Operating lease weighted average remaining term, discount rate, and supplmental cash flows information

The following table shows the weighted average remaining operating lease term, the weighted average discount rate and supplemental Consolidated Statement of Cash Flows information for operating leases at December 31.

(Dollars in thousands)	2022			2021			2020
Weighted average remaining lease term	9.33 years			9.31 years			10.17 years
Weighted average discount rate	1.85		%	1.75		%	1.80		%
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	4,298		$	4,006		$	3,794

Schedule of financial instruments whose contract amounts represent credit risk

Financial instruments, whose contract amounts represent credit risk as of December 31, were as follows:

(Dollars in thousands)	2022		2021
Amounts of commitments:
Loan commitments to extend credit	$	1,234,866	$	1,148,984
Standby letters of credit	$	18,055	$	24,657
Commercial and similar letters of credit	$	2,368	$	8,531