Note 21 - Leases -

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

Note 21 – Leases –

The Bank leases certain branch offices through non-cancelable operating leases with terms that range from one to ten years and contain various renewal options for certain of the leases. Certain leases provide for increases in minimum monthly rental payments as defined by the lease agreement. Rental expense under these agreements was $4.9 million, $2.8 million and $2.6 million for the years ended December 31, 2022, 2021 and 2020, respectively. The Company had a weighted average lease term of 6.0 years and 7.2 years and a weighted average discount rate of 2.63% and 2.64% as of December 31, 2022 and 2021, respectively.

Future minimum lease payments under these leases are as follows:

December 31,
	(Dollars in thousands)
2023	$	4,135
2024		3,761
2025		2,735
2026		2,182
2027		2,065
2028 and Thereafter		4,298
Total Future Minimum Lease Payments		19,176
Less Imputed Interest		(1,516	)
Present Value of Lease Liabilities	$	17,660