Leases (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Information about leases

The following tables present information about the Company’s leases.

(Dollars in thousands)	September 30, 2023			December 31, 2022
Lease liabilities	$	13,082		$	9,908
Right-of-use assets	$	12,741		$	9,629
Weighted average remaining lease term	11.07 years			12.55 years
Weighted average discount rate	3.18		%	2.50		%
Remaining lease term - min	0.64 years			0.16 years
Remaining lease term - max	17.93 years			18.68 years

	Three Months Ended September 30,				Nine Months Ended September 30,
Lease cost (in thousands)	2023		2022		2023		2022
Operating lease cost	$	485	$	340	$	1,153	$	1,007
Total lease cost	$	485	$	340	$	1,153	$	1,007
Cash paid for amounts included in the measurement of lease liabilities	$	459	$	318	$	1,090	$	939

Operating lease liabilities

A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total of operating lease liabilities is as follows:

Lease payments due (in thousands)	As of September 30, 2023
Three months ending December 31, 2023	$	460
2024	1,768
2025	1,544
2026	1,554
2027	1,454
Thereafter	8,669
Total undiscounted cash flows	$	15,449
Discount	2,367
Lease liabilities	$	13,082

Minimum future annual rental income

The following table presents our minimum future annual rental income on such leases as of September 30, 2023.

(In thousands)	As of September 30, 2023
Three months ending December 31, 2023	$	206
2024	701
2025	719
2026	737
2027	418
Thereafter	1,554
Total	$	4,335