XML 32 R18.htm IDEA: XBRL DOCUMENT v3.22.4
Leases
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases Leases
    The Company's lease commitments consist primarily of agreements to lease land and office facilities that it occupies to operate several of its retail branch locations that are classified as operating leases and are recognized on the balance sheet as right-of-use ("ROU") asset and lease liabilities. As of December 31, 2022, the Company has operating lease ROU assets of $9.9 million and operating lease liabilities of $9.9 million. As of December 31, 2021, the Company has operating lease ROU assets of $11.0 million and operating lease liabilities of $11.0 million. The Company does not have any agreements that are classified as finance leases.

    The following table presents additional information about the Company's operating leases:
(In Thousands)20222021
Lease Cost
Operating lease cost(1)
$2,737 $2,773 
Short term lease cost(1)
37 27 
Total lease cost$2,774 $2,800 
Other information
Operating leases - operating cash flows$2,545 $2,614 
Weighted average lease term - operating leases, in years10.5210.55
Weighted average discount rate - operating leases3.30 %3.21 %
(1)Expenses are classified within occupancy expense on the Consolidated Statements of Income.
    The table below reconciles the remaining undiscounted cash flows for the next five years for each twelve-month period presented and the total of the subsequent remaining years to the operating lease liabilities recorded on the balance sheet:
(In Thousands)Operating Leases
2023$2,476 
20242,187 
20251,995 
2026861 
2027500 
Thereafter4,082 
Total minimum lease payments$12,101 
Less: amount of lease payment representing interest(2,236)
Present value of future minimum lease payments$9,865