LEASES

12 Months Ended

Dec. 31, 2023

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
	2023			2022
Components of lease expense:
Operating lease cost (resulting from lease payments)	$	10,674		$	10,924




Supplemental cash flow information related to leases:
Operating cash flows from operating leases	$	11,470		$	11,579
ROU assets obtained in the exchange for lease liabilities due to:
New leases	$	703		$	92
Acquisitions	$	—		$	—

	As of
	December 31, 2023			December 31, 2022
Supplemental balance sheet information related to leases:
Operating lease ROU assets	$	40,362		$	48,910
Operating lease liabilities	$	48,058		$	57,402

Other information related to leases:
Weighted average remaining lease term of operating leases	5.6 years			8.6 years
Weighted average discount rate of operating leases	3.61		%	3.02		%

As of December 31, 2023, the maturities of the Company’s operating lease liabilities were as follows:


(In thousands)	Amount
Maturity:
One year	$	10,956
Two years	10,071
Three years	9,336
Four years	7,890
Five years	6,558
Thereafter	8,470
Total undiscounted lease payments	53,281
Less: Present value discount	(5,223)
Lease Liability	$	48,058

The Company had no operating lease that has not yet commenced operations at December 31, 2023. The Company does not have any lease arrangements with any of its related parties as of December 31, 2023