Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

16. Leases

The following table summarizes the operating lease ROU assets and liabilities at and for the period indicated:

	At or for the		At or for the
	twelve months ended		twelve months ended
(Dollars in thousands)	December 31, 2020		December 31, 2019
Operating lease ROU assets	$	50,743	$	41,254
Operating lease liabilities	$	59,100	$	49,367
Lease Cost
Operating lease cost	$	7,725	$	7,575
Short-term lease cost		139		136
Variable lease cost		1,128		1,020
Total lease cost	$	8,992	$	8,731
Other information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	8,316	$	8,051
Right-of-use assets obtained in exchange for new operating lease liabilities	$	5,484	$	1,576
Right-of-use assets obtained in acquisition	$	9,993	$	—
Weighted-average remaining lease term-operating leases		8.3 years		7.5 years
Weighted average discount rate-operating leases		3.2%		3.8%

The rental expense under legacy lease accounting totaled $6.1 million for the year ended 2018.

The Company’s minimum annual rental payments at December 31, 2020 for Bank facilities due under non-cancelable leases are as follows:

	Minimum Rental
	(In thousands)
Years ended December 31:
2021	$	8,757
2022		8,871
2023		9,006
2024		8,847
2025		8,212
Thereafter		23,547
Total minimum payments required		67,240
Less: implied interest		8,140
Total lease obligations	$	59,100

The Company’s minimum annual rental payments at December 31, 2019 for Bank facilities due under non-cancelable leases are as follows:

	Minimum Rental
	(In thousands)
Years ended December 31:
2020	$	8,113
2021		7,675
2022		7,260
2023		7,397
2024		7,425
Thereafter		19,148
Total minimum payments required		57,018
Less: implied interest		7,651
Total lease obligations	$	49,367