LEASES (Tables)

3 Months Ended

Mar. 31, 2024

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 table 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)		March 31, 2024		December 31, 2023
Lease Right-of-Use Assets	Classification
Operating lease right-of-use assets	Other assets	$	19,250	$	8,929
Lease Liabilities	Classification
Operating lease liabilities	Other liabilities	$	22,132	$	10,900

Schedule of weighted average lease term and discount rate

	March 31, 2024		December 31, 2023
Weighted-Average Remaining Lease Term
Operating leases	10.14 years		4.67 years
Weighted-Average Discount Rate
Operating leases	4.09	%	2.78	%

Lease costs

The following presents the Company’s net lease costs during the periods presented:

(dollars in thousands)	Three Months Ended March 31,
	2024		2023
Lease Costs
Operating lease cost	$	754	$	744
Variable lease cost	542		493
Lease costs, net	$	1,296	$	1,237

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
2024⁽¹⁾	$	2,636
2025	2,740
2026	2,244
2027	3,357
2028	3,115
Thereafter	15,122
Total future minimum lease payments	29,214
Less: imputed interest	(7,082)
Present value of net future minimum lease payments	$	22,132

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(1)Amount represents the remaining nine 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
2024⁽¹⁾	$	207
2025	67
2026	19
2027	4
2028	—
Thereafter	—
Total undiscounted operating lease income	$	297

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