LEASES (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Lease, Costs

Lease Position as of September 30, 2020 and December 31, 2019

The table below presents the lease right-of-use assets and lease liabilities recorded on the balance sheet at September 30, 2020 and December 31, 2019 (dollars in thousands):

	Classification on the Balance Sheet	September 30, 2020		December 31, 2019
Assets
Operating right-of-use lease assets	Other assets	$	58,114	$	61,766
Liabilities
Operating lease liabilities	Accrued expenses and other liabilities	$	61,869	$	65,818

Weighted-average remaining lease term
Operating leases	5.9 years		6.2 years
Weighted-average discount rate
Operating leases	3.4	%	3.7	%

Lease Costs

The table below presents certain information related to the lease costs for operating leases for the three and nine months ended September 30, 2020 and 2019 (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Operating lease cost (1)	$	4,104	$	3,818	$	12,517	$	11,650
Short-term lease cost (1)	28		62		78		284
Variable lease cost (1)	619		623		2,169		1,751
Less sublease income (1)	(235)		(228)		(716)		(696)
Total lease cost	$	4,516	$	4,275	$	14,048	$	12,989

(1)Lease expenses and sublease income are classified within occupancy and equipment expense on the Consolidated Statements of Operations.

Lessee, Operating Lease, Liability, Maturity

The table below reconciles the undiscounted cash flows for each of the next five years beginning with 2020 and the total of the remaining years to the operating lease liabilities recorded on the Consolidated Statements of Financial Position (in thousands):

	Operating Leases
Remainder of 2020	$	4,147
2021	15,739
2022	12,830
2023	9,813
2024	7,848
Thereafter	18,012
Total minimum lease payments	68,389
Less: amount of lease payments representing interest	(6,520)
Lease obligations	$	61,869