Leases

6 Months Ended

Jun. 30, 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 June 30, 2023, the Company has operating lease ROU assets of $10.1 million and operating lease liabilities of $10.1 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 June 30, 2023 or December 31, 2022.

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

		Three Months Ended June 30,		Six Months Ended June 30,
(In Thousands)		2023	2022	2023		2022
Lease Cost
	Operating lease cost(1)	$702	$672	$1,401		$1,353
	Short term lease cost(1)	46	5	79		17
	Total lease cost	$748	$677	$1,480		$1,370
Other information
	Operating leases - operating cash flows			$1,307		$1,278
	Weighted average lease term - operating leases, in years			10.47		10.79
	Weighted average discount rate - operating leases			3.49	%	3.26	%
(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 (Six months)	$1,321
2024	2,478
2025	2,271
2026	1,130
2027	731
Thereafter	4,418
Total minimum lease payments	$12,349
Less: amount of lease payment representing interest	(2,262)
Present value of future minimum lease payments	$10,087