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Leases (Tables)
12 Months Ended
Dec. 31, 2023
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)

 

December 31, 2023

 

 

December 31, 2022

 

Lease liability

 

$

6,504

 

 

$

6,173

 

Right-of-use asset

 

$

6,748

 

 

$

6,536

 

Weighted average remaining lease term

 

4.71 years

 

 

5.77 years

 

Weighted average discount rate

 

 

2.28

%

 

 

1.96

%

Schedule of Operating Lease Expense

(Dollars in thousands)

 

2023

 

 

2022

 

Operating lease expense

 

$

1,740

 

 

$

1,768

 

Short-term lease expense

 

 

332

 

 

 

592

 

Total lease expense

 

$

2,072

 

 

$

2,360

 

Cash paid for amounts included in lease liabilities

 

$

1,542

 

 

$

1,534

 

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)

 

December 31, 2023

 

Twelve months ending December 31, 2024

 

$

1,520

 

Twelve months ending December 31, 2025

 

 

1,437

 

Twelve months ending December 31, 2026

 

 

1,095

 

Twelve months ending December 31, 2027

 

 

999

 

Twelve months ending December 31, 2028

 

 

878

 

Thereafter

 

 

913

 

Total undiscounted cash flows

 

$

6,842

 

Less: Discount

 

 

(338

)

Lease liability

 

$

6,504