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

12 Months Ended

Dec. 31, 2023

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	2023		2022
Operating lease right of use assets	Accrued income and other assets	$	21,692	$	20,916
Operating lease liabilities	Accrued expenses and other liabilities	$	19,413	$	19,634

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	2023		2022		2021
Operating lease cost	Net occupancy expense	$	3,721	$	3,527	$	3,480
Short-term lease cost	Net occupancy expense	9		18		20
Variable lease cost	Net occupancy expense	8		8		—
Total operating lease cost		$	3,738	$	3,553	$	3,500

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)
2024	$	4,371
2025	3,985
2026	3,388
2027	2,691
2028	1,392
Thereafter	7,780
Total lease payments	23,607
Less: imputed interest	(4,194)
Present value of operating lease liabilities	$	19,413

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)	2023			2022			2021
Weighted average remaining lease term	9.31 years			9.33 years			9.31 years
Weighted average discount rate	4.28		%	1.85		%	1.75		%
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	4,508		$	4,298		$	4,006

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)	2023		2022
Amounts of commitments:
Loan commitments to extend credit	$	1,454,506	$	1,234,866
Standby letters of credit	$	17,287	$	18,055
Commercial and similar letters of credit	$	7,047	$	2,368