LEASES

12 Months Ended

Dec. 31, 2022

The Company leases real estate properties for its network of bank branches, financial centers and corporate offices. All of the Company’s leases are currently classified as operating. Most lease agreements include one or more options to renew, with renewal terms that can extend the original lease term from one to twenty years or more. The Company does not receive sublease income from any of its leased real estate properties.

The following table provides information regarding the Company's leases as of the dates indicated:


	Year Ended
	2022			2021
Components of lease expense:
Operating lease cost (resulting from lease payments)	$	10,924		$	12,304




Supplemental cash flow information related to leases:
Operating cash flows from operating leases	$	11,579		$	12,930
ROU assets obtained in the exchange for lease liabilities due to:
New leases	$	92		$	803
Acquisitions	$	—		$	—

	As of
	December 31, 2022			December 31, 2021
Supplemental balance sheet information related to leases:
Operating lease ROU assets	$	48,910		$	57,872
Operating lease liabilities	$	57,402		$	67,138

Other information related to leases:
Weighted average remaining lease term of operating leases	8.6 years			9.0 years
Weighted average discount rate of operating leases	3.02		%	2.92		%

As of December 31, 2022, the maturities of the Company’s operating lease liabilities were as follows:


(In thousands)	Amount
Maturity:
One year	$	11,537
Two years	9,583
Three years	7,721
Four years	6,973
Five years	5,545
Thereafter	24,967
Total undiscounted lease payments	66,326
Less: Present value discount	(8,924)
Lease Liability	$	57,402

The Company had one operating lease that has not yet commenced operations at December 31, 2022, and is expected to commence operations during the second half of 2023. Total amount of undiscounted future rent cash flows is approximately $0.8 million. The Company does not have any lease arrangements with any of its related parties as of December 31, 2022