Leases

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

Leases

Leases:

The Company leases certain office space and equipment for use in its operations. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. Some leases contain renewal options and, in accordance with ASC Topic 842, Leases, the lease term includes those renewals only to the extent that they are reasonably certain to be exercised.

Lease cost included in the accompanying unaudited condensed consolidated statements of income as a component of selling, general and administrative costs is presented in the table below (in thousands).

	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
Operating leases costs	$	179	$	220	$	343	$	486
Variable lease costs - operating	$	85	$	31	$	151	$	79

The following table presents additional information about the Company’s leases (dollars in thousands):

	June 30, 2026		December 31, 2025
Right-of-use (ROU) assets	$	2,559	$	1,902
Lease liabilities	$	2,688	$	2,021

ROU assets are included within other assets and lease liabilities are included within accrued expenses and other liabilities in the accompanying unaudited condensed consolidated balance sheets.

As of June 30, 2026, the Company had two additional operating leases for division office space that had not yet commenced with total undiscounted fixed lease payments of approximately $0.8 million. The operating leases will both commence in 2026 with lease terms of approximately 5 years.