Leases

9 Months Ended

Sep. 30, 2022

Leases.

Leases

Note 9:   Leases

The Company has operating leases for various locations with terms ranging from two to eleven years. Some operating leases included in the right-of-use asset include options to extend the leases if the likelihood of extension was fairly certain. The Company elected not to separate non-lease components from lease components for its operating leases.

The Company has operating lease right-of-use assets of $11.6 million and operating lease liabilities of $12.3 million as of September 30, 2022.

Balance sheet, income statement and cash flow detail regarding operating leases follows:

		September 30, 2022
Balance Sheet		(In thousands)
Operating lease right-of-of use asset (in other assets)	$	11,569
Operating lease liability (in other liabilities)		12,292
Weighted average remaining lease term (years)		6.8
Weighted average discount rate		2.63%
Maturities of lease liabilities:
2022 remaining	$	453
2023		2,129
2024		2,297
2025		1,881
2026		1,911
Thereafter		4,754
Total future minimum lease payments		13,425
Less: imputed interest		1,133
Total	$	12,292
		Three Months Ended
		September 30, 2022
Income Statement		(In thousands)
Components of lease expense:
Operating lease cost (in occupancy and equipment expense)	$	482
		Nine Months Ended
		September 30, 2022
Income Statement		(In thousands)
Components of lease expense:
Operating lease cost (in occupancy and equipment expense)	$	1,274
		Nine Months Ended
		September 30, 2022
Cash Flow Statement		(In thousands)
Supplemental cash flow information:
Operating cash flows from operating leases	$	1,061