LEASES (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Lease balance sheet location

The Company elected to not include short-term leases with initial terms of twelve months or less on the Condensed Consolidated Balance Sheets. The following presents the classification of the right-of-use assets and corresponding liabilities within the Condensed Consolidated Balance Sheets, as of the dates noted (dollars in thousands).

		September 30, 2023		December 31, 2022
Lease Right-of-Use Assets	Classification
Operating lease right-of-use assets	Other assets	$	8,410	$	8,602
Lease Liabilities	Classification
Operating lease liabilities	Other liabilities	$	10,547	$	11,163

Schedule of weighted average lease term and discount rate

	September 30, 2023		December 31, 2022
Weighted-Average Remaining Lease Term
Operating leases	4.58 years		4.85 years
Weighted-Average Discount Rate
Operating leases	2.70	%	2.63	%

Lease costs

The following presents the Company’s net lease costs during the periods presented (dollars in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Lease Costs
Operating lease cost	$	720	$	768	$	2,239	$	2,387
Variable lease cost	453		523		1,426		1,609
Lease costs, net	$	1,173	$	1,291	$	3,665	$	3,996

Schedule of minimum lease payments due

The following presents a maturity analysis of the Company’s operating lease liabilities on an annual basis for each of the next five years and total amounts thereafter (dollars in thousands):

Year Ending December 31,	Operating Leases
2023⁽¹⁾	$	868
2024	3,425
2025	2,493
2026	1,170
2027	1,104
Thereafter	2,046
Total future minimum lease payments	11,106
Less: imputed interest	(559)
Present value of net future minimum lease payments	$	10,547

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(1)Amount represents the remaining three months of year.

Summary of maturity analysis of the Company's operating payments to be received

The following presents a maturity analysis of the Company's lease payments to be received on an annual basis for each of the next five years and total amounts thereafter (dollars in thousands):

Year Ending December 31,	Undiscounted Operating Lease Income
2023⁽¹⁾	$	80
2024	282
2025	67
2026	19
2027	4
Thereafter	—
Total undiscounted operating lease income	$	452

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(1)Amount represents the remaining three months of the year.