Lease Investments (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of components of lease investments by category

The following table shows the components of the investment in direct finance and operating leases as of December 31.

(Dollars in thousands)	2023		2022
Direct finance leases:
Minimum lease payments	$	247,256	$	224,816
Estimated unguaranteed residual values	—		—
Less: Unearned income	(57,927)		(50,633)
Net investment in direct finance leases	$	189,329	$	174,183
Operating leases:
Gross investment in operating leases	$	41,368	$	60,999
Accumulated depreciation	(21,002)		(29,299)
Net investment in operating leases	$	20,366	$	31,700

Minimum future lease payments due from clients

The following table shows future minimum lease payments due from clients on direct finance and operating leases at December 31, 2023.

(Dollars in thousands)	Direct Finance Leases		Operating Leases
2024	$	60,420	$	5,588
2025	47,019		3,239
2026	36,834		1,743
2027	30,475		887
2028	26,118		427
Thereafter	46,390		40
Total	$	247,256	$	11,924

Schedule of the components of income from direct finance and operating lease equipment

The following table shows interest income recognized from direct finance lease payments and operating lease equipment rental income and related depreciation expense.

(Dollars in thousands)	2023		2022		2021
Direct finance leases:
Interest income on lease receivable	$	13,553	$	9,008	$	6,634
Operating leases:
Income related to lease payments	$	8,837	$	12,274	$	16,647
Depreciation expense	7,093		10,023		13,694