LEASES (Tables)

3 Months Ended

Mar. 31, 2023

LEASES [Abstract]

Maturities of Remaining Lease Liabilities

The table below summarizes the maturity of remaining lease liabilities:

(in thousands)	March 31, 2023
2023 (remaining 9 months)	$	894
2024		1,040
2025		1,052
2026		672
2027		611
2028 and thereafter		1,520
Total lease payments		5,789
Less: interest		(401	)
Present value of lease liabilities	$	5,388

Supplemental Cash Flow Information Related to Leases

The following table presents supplemental cash flow information related to leases for the three months ended March 31, 2023 and March 31, 2022:

(in thousands)	Three Months Ended March 31, 2023		Three Months Ended March 31, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	313	$	299
Right-of-use assets obtained in exchange for new operating lease liabilities	$	245	$	707

Weighted Average Operating Lease Term and Discount Rate

The following table presents the weighted average operating lease term and discount rate as of March 31, 2023 and December 31, 2022:

(in thousands)	March 31, 2023			December 31, 2022
Weighted-average remaining lease term – operating leases, in years	$	5.84		$	6.14
Weighted-average discount rate – operating leases	$	2.45	%	$	2.37	%