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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Summary of Right-of-Use Asset and Net Lease Liability

The following table summarizes information related to the Company’s right-of-use asset and net lease liability:

 

 

At December 31, 2022

 

 

Operating Leases

 

 

Balance Sheet Location

 

 

(Dollars in thousands)

Right-of-use asset

 

$

202

 

 

Other Assets

Net lease liability

 

 

202

 

 

Other Liabilities

Components of Operating Lease Cost and Other Related Information

The components of operating lease cost and other related information are as follows:

 

 

Year Ended December 31, 2022

 

 

 

(Dollars in thousands)

 

Operating lease cost

 

$

54

 

Short-term lease cost

 

 

—

 

Variable lease cost (Cost excluded from lease payments)

 

 

—

 

Sublease income

 

 

—

 

   Total operating lease cost

 

 

54

 

Other Information:

 

 

 

Cash paid for amounts included in the measurement of lease liabilities - operating cash flows from operating leases

 

 

54

 

Operating lease - operating cash flows (liability reduction)

 

$

—

 

Weighted average lease term - years

 

 

4.37

 

Weighted average discount rate

 

 

3.29

%

 

 

 

 

 

Schedule of Total Minimum Lease Payments Due In Future Periods For Lease Agreements

The total minimum lease payments due in future periods for lease agreements in effect at December 31, 2022 were as follows:

As of December 31, 2022

 

Future Minimum Lease Payments

 

 

 

(Dollars in thousands)

 

2023

 

$

52

 

2024

 

 

49

 

2025

 

 

45

 

2026

 

 

43

 

2027

 

 

29

 

Total minimum lease payments

 

 

218

 

Less: interest

 

 

(16

)

Total lease liability

 

$

202