Credit Agreement (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Credit Agreement

Selected details of our credit agreement as of and for the years ended December 31, 2022 and 2021 were as follows (dollars in thousands):

	As of December 31,
	2022			2021
Credit Agreement:
Credit facility remaining availability	$	124,113		$	124,082
Outstanding letters of credit	$	887		$	918
Availability of additional letters of credit (1)	$	124,113		$	124,082
Weighted average daily revolving credit borrowings    for the year ended	$	-		$	-
Weighted average annual interest rate		0.00	%		0.00	%
Commitment fee rate		0.30	%		0.30	%
Letter of credit fee rate (2)		6.50	%		3.00	%

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(1)The letters of credit availability under the credit agreement with Wintrust is up to the borrowing limit of $125.0 million.

The letter of credit fee rate is based on prime minus 1.0%, subject to a minimum rate of 3.0%. The prime rate as of December 31, 2022 was 7.50%, which would yield a 6.50% fee rate, which is reflected in the table above.