Leases

12 Months Ended

Dec. 31, 2023

Leases

Leases

7) Leases

As of December 31, 2023 and December 31, 2022, operating lease right-of-use (“ROU”) assets, included in other assets and lease liabilities, included in other liabilities, totaled $31,674,000 and $33,031,000, respectively.  

The following table presents the quantitative information for the Company’s leases:

		Year Ended
		December 31,
		2023		2022
Operating Lease Cost (Cost resulting from lease payments)	$	6,763	$	6,625
Operating Lease - Operating Cash Flows (Fixed Payments)	$	6,701	$	4,948
Operating Lease - ROU assets	$	31,674	$	33,031
Operating Lease - Liabilities	$	31,674	$	33,031
Weighted Average Lease Term - Operating Leases		5.88 years		6.60 years
Weighted Average Discount Rate - Operating Leases		4.98%		4.49%

The following maturity analysis shows the undiscounted cash flows due on the Company’s operating lease liabilities:

	(Dollars in thousands)
2024	$	6,661
2025		6,278
2026		5,698
2027		5,552
2028		4,971
Thereafter		7,532
Total undiscounted cash flows		36,692
Discount on cash flows		(5,018)
Total lease liability	$	31,674