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Leases (Tables)
6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Summary of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:

 

 

 

June 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

 

 

(Dollars in thousands)

 

Operating lease ROU assets

 

$

28,806

 

 

$

29,093

 

Operating lease liabilities

 

 

30,501

 

 

 

30,696

 

Weighted-average remaining lease term-operating leases

 

11.8 years

 

 

12.0 years

 

Weighted average discount rate-operating leases

 

 

5.1

%

 

 

5.1

%

Summary of Lease Expense and Cash Flow Information Related to Leases

The components of lease expense and cash flow information related to leases were as follows:

 

 

 

 

 

For the Three

 

 

For the Six

 

 

 

 

 

Months Ended

 

 

Months Ended

 

 

 

 

 

June 30,

 

 

June 30,

 

 

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

(Dollars in thousands)

 

Lease Cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease cost

 

Occupancy and equipment

 

$

1,047

 

 

$

1,021

 

 

$

2,172

 

 

$

2,047

 

Operating lease cost

 

Other operating expenses

 

 

4

 

 

 

19

 

 

 

4

 

 

 

22

 

Short-term lease cost

 

Other operating expenses

 

 

7

 

 

 

5

 

 

 

16

 

 

 

10

 

Variable lease cost

 

Occupancy and equipment

 

 

41

 

 

 

36

 

 

 

88

 

 

 

76

 

Total lease cost

 

 

 

$

1,099

 

 

$

1,081

 

 

$

2,280

 

 

$

2,155

 

Summary of Minimum Annual Rental Payments under Terms of Leases

The Company’s minimum annual rental payments under the terms of the leases are as follows at June 30, 2025:

 

 

 

Minimum Rental

 

Years ended December 31:

 

(in thousands)

 

Remainder of 2025

 

$

1,940

 

2026

 

 

3,773

 

2027

 

 

3,607

 

2028

 

 

3,629

 

2029

 

 

3,176

 

Thereafter

 

 

24,393

 

Total Minimum payments required

 

 

40,518

 

Less: implied interest

 

 

10,017

 

Present value of lease liabilities

 

$

30,501