Leases (Tables)

3 Months Ended

Mar. 31, 2024

Operating and finance lease costs and cash flows resulting from these leases are presented below:


	Three Months Ended Mar 31,
($ in thousands)	2024		2023
Operating lease costs	$	1,545	$	1,464
Finance lease costs	23		23
Operating lease cash flows	1,844		1,828
Finance lease cash flows	23		22

Components of lease expense

The right-of-use asset and lease liability by lease classifications on the consolidated balance sheets were as follows:


($ in thousands)	Consolidated Balance Sheets Category	Mar 31, 2024		Dec 31, 2023
Operating lease right-of-use asset	Premises and equipment	$	23,310	$	24,712
Finance lease right-of-use asset	Other assets	347		368
Operating lease liability	Accrued expenses and other liabilities	25,813		27,311
Finance lease liability	Other long-term funding	361		383

Operating lease information

The lease payment obligations, weighted-average remaining lease term, and weighted-average original discount rate were as follows:


	Mar 31, 2024					Dec 31, 2023
($ in thousands)	Lease payments		Weighted-average lease term (in years)	Weighted-average discount rate		Lease payments		Weighted-average lease term (in years)	Weighted-average discount rate
Operating leases
Retail and corporate offices	$	24,223	5.61	3.14	%	$	25,729	5.76	3.12	%
Land	3,846		6.87	3.49	%	4,050		6.98	3.48	%
Equipment	408		2.25	4.62	%	408		2.50	4.62	%
Total operating leases	$	28,476	5.73	3.21	%	$	30,187	5.88	3.19	%
Finance leases
Retail and corporate offices	$	370	4.00	1.32	%	$	394	4.25	1.32	%

Total finance leases	$	370	4.00	1.32	%	$	394	4.25	1.32	%

Amortization of operating lease liabilities

Contractual lease payment obligations for each of the next five years and thereafter, in addition to a reconciliation to the Corporation’s lease liability, were as follows:


($ in thousands)	Operating Leases		Finance Leases		Total Leases
Nine months ended December 31, 2024	$	4,828	$	69	$	4,898
2025	5,629		93		5,721
2026	5,023		93		5,116
2027	4,312		93		4,404
2028	3,428		23		3,451
Beyond 2028	5,257		—		5,257
Total lease payments	$	28,476	$	370	$	28,847
Less: interest	2,663		9		2,673
Present value of lease payments	$	25,813	$	361	$	26,174