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Leases (Tables)
6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Schedule of Lease Liability, Right-of-use Asset, Weighted Average Remaining Lease Term and Discount Rate

The following tables present information about the Company’s leases (dollars in thousands):

 

 

 

June 30, 2022

 

 

June 30, 2021

 

Lease liability

 

$

6,925

 

 

$

7,833

 

Right-of-use asset

 

$

7,343

 

 

$

8,371

 

Weighted average remaining lease term

 

5.84 years

 

 

6.37 years

 

Weighted average discount rate

 

 

1.97

%

 

 

1.98

%

Schedule of Operating Lease Expense

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

Lease Expense:

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Operating lease expense

 

$

449

 

 

$

427

 

 

$

894

 

 

$

649

 

Short-term lease expense

 

 

139

 

 

 

32

 

 

 

191

 

 

 

61

 

Total lease expense

 

$

588

 

 

$

459

 

 

$

1,085

 

 

$

710

 

Cash paid for amounts included in
   lease liabilities

 

$

418

 

 

$

389

 

 

$

832

 

 

$

608

 

Schedule of Operating Lease Liabilities and Reconciliation of Undiscounted Cash Flows

A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total of operating lease liabilities is as follows (dollars in thousands):

Undiscounted Cash Flow

 

June 30, 2022

 

Six months ending December 31, 2022

 

$

817

 

Twelve months ending December 31, 2023

 

 

1,567

 

Twelve months ending December 31, 2024

 

 

1,296

 

Twelve months ending December 31, 2025

 

 

1,091

 

Twelve months ending December 31, 2026

 

 

748

 

Twelve months ending December 31, 2027

 

 

650

 

Thereafter

 

 

1,141

 

Total undiscounted cash flows

 

$

7,310

 

Less: Discount

 

 

(385

)

Lease liability

 

$

6,925