Leases

3 Months Ended

Mar. 31, 2023

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") assets and lease liabilities. As of March 31, 2023, the Company has operating lease ROU assets of $9.5 million and operating lease liabilities of $9.5 million. As of December 31, 2022, the Company had operating lease ROU assets of $9.9 million and operating lease liabilities of $9.9 million. The Company did not have any agreements that are classified as finance leases as of March 31, 2023 or December 31, 2022.

    The following table presents additional information about the Company's operating leases:

		Three Months Ended March 31,
(In Thousands)		2023		2022
Lease Cost
	Operating lease cost(1)	$699		$681
	Short term lease cost(1)	33		12
	Total lease cost	$732		$693
Other information
	Operating leases - operating cash flows	$651		$644
	Weighted average lease term - operating leases, in years	10.55		10.66
	Weighted average discount rate - operating leases	3.39	%	3.23	%
(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 (unless otherwise indicated) and the total of the subsequent remaining years to the operating lease liabilities recorded on the balance sheet:

(In Thousands)	Operating Leases
2023 (Nine months)	$1,921
2024	2,274
2025	1,995
2026	861
2027	500
Thereafter	4,137
Total minimum lease payments	$11,688
Less: amount of lease payment representing interest	(2,222)
Present value of future minimum lease payments	$9,466