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LEASES (Tables)
3 Months Ended
Mar. 31, 2025
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)March 31,
2025
December 31,
2024
Lease Right-of-Use AssetsClassification
Operating lease right-of-use assetsOther assets$18,476 $19,161 
Lease LiabilitiesClassification
Operating lease liabilitiesOther liabilities$20,183 $20,959 
Schedule of weighted average lease term and discount rate
March 31,
2025
December 31,
2024
Weighted-Average Remaining Lease Term
Operating leases8.97 years9.09 years
Weighted-Average Discount Rate
Operating leases4.15 %4.14 %
Lease costs The following presents the Company’s net lease costs during the periods presented:
(dollars in thousands)
Three Months Ended March 31,
20252024
Lease Costs
Operating lease cost$876 $754 
Variable lease cost576 542 
Lease costs, net$1,452 $1,296 
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
2025⁽¹⁾$2,066 
20261,673 
20271,330 
20281,200 
20293,000 
Thereafter16,633 
Total future minimum lease payments25,902 
Less: imputed interest(5,719)
Present value of net future minimum lease payments$20,183 
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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 three years and total amounts thereafter (dollars in thousands):
Year Ending December 31,Undiscounted
Operating Lease Income
2025⁽¹⁾$142 
2026149 
2027124 
Thereafter— 
Total undiscounted operating lease income$415 
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(1)Amount represents the remaining nine months of the year.