Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

16. Leases

The Company has 28 operating leases for branches (including the corporate headquarters) and office spaces, 10 operating leases for vehicles, and one operating lease for equipment. Additionally, one of our leased locations is subleased. Our leases have remaining lease terms ranging from one month to approximately 15 years, none of which has a renewal option reasonably certain of exercise, which has been reflected in the Company’s calculation of lease term.

Supplemental balance sheet information related to leases was as follows:

(Dollars in thousands)	December 31, 2021		December 31, 2020
Operating lease ROU assets	$	50,200	$	50,743
Operating lease liabilities	$	54,155	$	59,100
Weighted-average remaining lease term-operating leases		7.4 years		8.3 years
Weighted average discount rate-operating leases		3.1%		3.2%

The components of lease expense and cash flow information related to leases were as follows:

	For the year ended
(Dollars in thousands)	December 31, 2021		December 31, 2020		December 31, 2019
Lease Cost
Operating lease cost	$	8,689	$	7,725	$	7,575
Short-term lease cost		164		139		136
Variable lease cost		1,065		1,128		1,020
Total lease cost	$	9,918	$	8,992	$	8,731
Other information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	12,811	$	8,316	$	8,051
Right-of-use assets obtained in exchange for new operating lease liabilities	$	6,570	$	5,484	$	1,576
Right-of-use assets obtained in acquisition	$	—	$	9,993	$	—

The Company’s minimum annual rental payments at December 31, 2021 for Bank facilities due under non-cancelable leases are as follows:

	Minimum Rental
	(In thousands)
Years ended December 31:
2022	$	9,129
2023		9,488
2024		9,322
2025		8,660
2026		7,769
Thereafter		16,277
Total minimum payments required		60,645
Less: implied interest		6,490
Total lease obligations	$	54,155