LEASES (Tables)

9 Months Ended

Sep. 30, 2023

LEASES [Abstract]

Maturities of Remaining Lease Liabilities

The table below summarizes the maturity of remaining lease liabilities at September 30, 2023:

(in thousands)	September 30, 2023
2023 (remaining 3 months)	$	297
2024		1,040
2025		1,052
2026		672
2027		611
2028 and thereafter		1,520
Total lease payments		5,192
Less: interest		(338	)
Present value of lease liabilities	$	4,854

Supplemental Cash Flow Information Related to Leases

The following table presents supplemental cash flow information related to leases for the three and nine months ended September 30, 2023:

	Three months ended September 30,				Nine months ended September 30,
(in thousands)	2023		2022		2023		2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	296	$	345	$	910	$	948
Right-of-use assets obtained in exchange for new operating lease liabilities		—		162		245		869

Weighted Average Operating Lease Term and Discount Rate

The following table presents the weighted average operating lease term and discount rate as of September 30, 2023 and December 31, 2022:

	September 30, 2023			December 31, 2022
Weighted-average remaining lease term – operating leases, in years		5.55			6.14
Weighted-average discount rate – operating leases		2.43	%		2.37	%