LEASES (Tables)

3 Months Ended

Mar. 31, 2024

LEASES [Abstract]

Maturities of Remaining Lease Liabilities

The table below summarizes the maturity of remaining lease liabilities:

(in thousands)	March 31, 2024
2024 (remaining 9 months)	$	741
2025		1,051
2026		672
2027		611
2028		625
2029 and thereafter		895
Total lease payments		4,595
Less: interest		(282	)
Present value of lease liabilities	$	4,313

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, 2024 and March 31, 2023:

(in thousands)	Three Months Ended March 31, 2024		Three Months Ended March 31, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	299	$	313
Right-of-use assets obtained in exchange for new operating lease liabilities	$	—	$	245

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, 2024 and December 31, 2023:

(in thousands)	March 31, 2024		December 31, 2023
Weighted-average remaining lease term – operating leases, in years	5.32		5.43
Weighted-average discount rate – operating leases	2.41	%	2.42	%