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Leases (Tables)
6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Schedule of Lease cost

Lease costs for the three and six months ended June 30, 2024 and 2023 were as follows and are included in occupancy and equipment expense on the consolidated statements of income:

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

(Dollars in thousands)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Operating lease cost

 

$

845

 

 

$

755

 

 

$

1,677

 

 

$

1,464

 

Short-term lease cost

 

 

9

 

 

 

41

 

 

 

19

 

 

 

103

 

Variable lease cost

 

 

308

 

 

 

306

 

 

 

646

 

 

 

579

 

Total lease cost

 

$

1,162

 

 

$

1,102

 

 

$

2,342

 

 

$

2,146

 

 

Schedule of maturities of operating leases

A schedule of the Company's lease liabilities by contractual maturity for operating leases with initial or remaining terms in excess of one year for each year through 2029 and thereafter is presented below:

(Dollars in thousands)

 

June 30, 2024

 

2024 (six months remaining)

 

$

1,594

 

2025

 

 

3,256

 

2026

 

 

3,331

 

2027

 

 

3,366

 

2028

 

 

3,176

 

2029 and thereafter

 

 

11,722

 

Total undiscounted lease liability

 

 

26,445

 

Less: Discount on cash flows

 

 

(4,526

)

Total operating lease liability

 

$

21,919