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Leases (Tables)
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Schedule of Cost Components of Operating Lease

The cost components of the operating lease were as follows for the years ended December 31, 2021 and 2020:

 

 

 

Year Ended December 31,

 

 

 

2021

 

2020

 

Lease Cost

 

 

 

 

 

 

 

Operating lease expense

 

$

591

 

$

536

 

Variable lease expense(1)

 

 

751

 

 

549

 

Lease Term and Discount Rate

 

 

 

 

 

 

 

Remaining lease term (years)

 

 

10.50

 

 

6.50

 

Discount rate

 

 

3.42

%

 

2.45

%

 

(1)

Variable lease costs are payments that vary because of changes in facts or circumstances and include common area maintenance and property taxes related to the premises. Variable lease costs are excluded from the calculation of minimum lease payments.

Future Minimum Lease Payments Future minimum lease payments as of December 31, 2021 were as follows:

 

Year ending December 31:

 

 

 

 

2022

 

$

879

 

2023

 

932

 

2024

 

974

 

2025

 

 

1,029

 

2026

 

 

1,083

 

2027 and thereafter

 

 

6,793

 

Total future minimum lease payments

 

$

11,690

 

Less: imputed interest

 

 

(1,965

)

Less: future lease incentives reasonably certain of use

 

 

(1,468

)

Present value of lease liabilities

 

$

8,257