LEASES (Tables)

9 Months Ended

Sep. 30, 2022

LEASES

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,		December 31,
		2022		2021
Lease Right-of-Use Assets	Classification
Operating lease right-of-use assets	Other assets	$	8,583	$	10,720
Lease Liabilities	Classification
Operating lease liabilities	Other liabilities	$	11,312	$	13,863

Schedule Of Weighted Average Lease Term And Discount Rate

	September 30,			December 31,
	2022			2021
Weighted-Average Remaining Lease Term
Operating leases		4.86	years		5.26	years
Weighted-Average Discount Rate
Operating leases		2.60	%		2.67	%

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,
	2022		2021		2022		2021
Lease Costs
Operating lease cost	$	768	$	781	$	2,387	$	2,264
Variable lease cost		523		488		1,609		1,316
Lease costs, net	$	1,291	$	1,269	$	3,996	$	3,580

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
2022(1)	$	858
2023		3,131
2024		2,983
2025		2,039
2026		703
Thereafter		2,168
Total future minimum lease payments		11,882
Less: imputed interest		(570)
Present value of net future minimum lease payments	$	11,312

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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

		Undiscounted
Year Ending December 31,		Operating Lease Income
2022(1)	$	73
2023		230
2024		199
2025		—
2026		—
Thereafter		—
Total undiscounted operating lease income	$	502

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