Leases

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Leases

(6) LEASES

The Company has leased premises that expire at various dates through November 30, 2027 subject to various operating leases. The Company has implemented ASC Topic 842 under a modified retrospective approach in which no adjustments have been made to the prior year balances.

The following table presents the operating lease costs and additional information for the three months ended March 31, 2022 and 2021.

	Three Months Ended March 31,
(Dollars in thousands)	2022			2021
Operating lease costs	$	590		$	572
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases		645			675
Right-of-use asset obtained in exchange for lease liability		(45	)		(18	)

The following table presents the breakout of the operating leases as of March 31, 2022 and December 31, 2021.

(Dollars in thousands)	March 31, 2022			December 31, 2021
Operating lease right-of-use assets	$	9,536		$	10,045
Other current liabilities		2,153			2,159
Operating lease liabilities		8,548			9,053
Total operating lease liabilities		10,701			11,212
Weighted average remaining lease term	5.2 years			5.4 years
Weighted average discount rate		5.54	%		5.54	%

At March 31, 2022, maturities of the lease liabilities were as follows:

(Dollars in thousands)
Remainder of 2022	$	1,823
2023		2,356
2024		2,373
2025		2,390
2026		2,408
Thereafter		1,164
Total lease payments		12,514
Less imputed interest		1,813
Total operating lease liabilities	$	10,701