Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Summary of Company's Lease Information

For the years ended December 31, 2021 and 2020, a summary of the Company’s lease information is shown below:

	Year Ended December 31,
(In thousands)	2021		2020
Lease cost:
Operating lease costs	$	672	$	672
Other information:
Cash paid for operating leases	$	724	$	704

There were no additional right-of-use assets obtained in exchange for operating lease liabilities during the years ended December 31, 2021 and 2020. The Company used 8.0%, its estimated incremental borrowing rate for similar secured assets, as the discount rate for the above-mentioned leases to determine the present value of the lease payments because the implicit rate in each lease is not readily determinable. The discount rate was calculated on the basis of information available as of January 1, 2019, the application date.

Scheduled Future Maturities and Present Value of Operating Lease Liabilities

As of December 31, 2021, scheduled future maturities and present value of the operating lease liabilities are as follows:

(In thousands)
Year	December 31, 2021
2022	$	743
2023		765
2024		542
2025		77
Total maturities	$	2,127
Present value included in consolidated balance sheet:
Current portion of operating lease liabilities	$	617
Noncurrent operating lease liabilities		1,291
Total operating lease liabilities	$	1,908
Difference between the maturities and the present value of operating lease liabilities	$	219