LEASES (Tables)

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Summary of Operating Lease Cost and Supplemental Cash Flow Information Related to Operating Leases

The following table presents the Company’s operating lease cost and supplemental cash flow information related to the Company’s operating leases (in thousands):

	Three Months Ended March 31,
	2023		2022
Operating lease cost	$	1,221	$	1,098
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations	$	—	$	—

Schedule of Operating Lease Right of Use Assets and Liabilities

The following table presents the Company’s operating right-of-use assets and liabilities (in thousands):

	March 31, 2023		December 31, 2022
Right-of-use assets	$	30,567	$	31,486
Short-term lease liabilities		3,811		3,737
Long-term lease liabilities		28,154		29,039

Schedule of Weighted Average Assumptions Used to Compute Right-of-use Assets and Lease Liabilities

The following table presents weighted average assumptions used to compute the Company’s right-of-use assets and lease liabilities:

	March 31, 2023
Weighted average remaining lease term (in years)		7.5
Weighted average discount rate		3.4	%

Schedule of Undiscounted Future Minimum Lease Payments Having Non-cancelable Lease Terms

Undiscounted future minimum lease payments as of March 31, 2023, by year and in the aggregate, having non-cancelable lease terms in excess of one year were as follows (in thousands):

	Maturities of Operating Lease Liabilities
2023 (1)	$	3,503
2024		4,650
2025		4,704
2026		4,730
2027		4,631
Thereafter		12,129
Total lease payments		34,347
Less: Imputed interest		(3,780	)
Present value of lease payments	$	30,567

(1)Scheduled maturities of lease liabilities represent the period from April 1, 2023 to December 31, 2023.