LEASES (Tables)

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Schedule Of Operating And Finance Lease Liabilities

Leases	Classification	June 30, 2023		December 31, 2022
Assets:
Operating lease assets	Operating lease assets	$	36,444	$	32,307
Finance lease assets	Premises and equipment, net (1)	250		286
Total leased assets		$	36,694	$	32,593
Liabilities:
Operating lease liabilities	Operating lease liabilities	$	38,182	$	33,726
Finance lease liabilities	Accrued interest payable and other liabilities	339		383
Total leased liabilities		$	38,521	$	34,109

(1) Finance lease assets are recorded net of accumulated amortization of $966 thousand as of June 30, 2023 and $930 thousand as of December 31, 2022.

Schedule Of Lease Cost

The components of the Corporation's net lease expense for the three and six months ended June 30, 2023 and 2022, respectively, were as follows:

		Three Months Ended June 30,				Six Months Ended June 30,
Lease Cost	Classification	2023		2022		2023		2022
Operating lease cost	Net occupancy expense	$	782	$	566	$	1,479	$	1,058
Variable lease cost	Net occupancy expense	22		17		44		30
Finance lease cost:
Amortization of leased assets	Net occupancy expense	18		18		36		36
Interest on lease liabilities	Interest expense - borrowed funds	4		5		8		10
Sublease income (1)	Net occupancy expense	(23)		(17)		(46)		(33)
Net lease cost		$	803	$	589	$	1,521	$	1,101

(1) Sublease income excludes rental income from owned properties.

Schedule of Finance Lease, Liability, Maturity

The following table sets forth future minimum rental payments under noncancellable leases with initial terms in excess of one year as of June 30, 2023:

Maturity of Lease Liabilities as of June 30, 2023	Operating Leases (1)		Finance Leases		Total
2023	$	1,276	$	52	$	1,328
2024	2,559		105		2,664
2025	2,579		105		2,684
2026	2,567		105		2,672
2027	2,543		—		2,543
After 2027	50,239		—		50,239
Total lease payments	61,763		367		62,130
Less: Interest	23,581		28		23,609
Present value of lease liabilities	$	38,182	$	339	$	38,521

(1) Operating lease payments include payments related to options to extend lease terms that are reasonably certain of being exercised and exclude $4.8 million of legally binding minimum lease payments for leases signed, but not yet commenced.

Schedule of Minimum Annual Rental Commitments Under Operating Lease

The following table sets forth future minimum rental payments under noncancellable leases with initial terms in excess of one year as of June 30, 2023:

Maturity of Lease Liabilities as of June 30, 2023	Operating Leases (1)		Finance Leases		Total
2023	$	1,276	$	52	$	1,328
2024	2,559		105		2,664
2025	2,579		105		2,684
2026	2,567		105		2,672
2027	2,543		—		2,543
After 2027	50,239		—		50,239
Total lease payments	61,763		367		62,130
Less: Interest	23,581		28		23,609
Present value of lease liabilities	$	38,182	$	339	$	38,521

(1) Operating lease payments include payments related to options to extend lease terms that are reasonably certain of being exercised and exclude $4.8 million of legally binding minimum lease payments for leases signed, but not yet commenced.

Schedule of Weighted Average Lease Term and Discount Rate

Lease terms and discount rates related to the Corporation's lease liabilities as of June 30, 2023 and December 31, 2022 were as follows:

Lease Term and Discount Rate	June 30, 2023		December 31, 2022
Weighted-average remaining lease term (years)
Operating leases	23.3		23.9
Finance leases	3.5		4.0
Weighted-average discount rate
Operating leases	4.05	%	3.83	%
Finance leases	4.49	%	4.49	%

Other information related to the Corporation's lease liabilities as of June 30, 2023 and 2022, respectively, was as follows:

Other Information	June 30, 2023		June 30, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	603	$	581