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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Components of Lease Expense

The components of lease expense for the year ended December 31, 2022 were as follows:

(in thousands)
 
Year Ended
December 31, 2022
   
Year Ended
December 31, 2021
 
Finance lease cost:
           
Amortization of right-of-use assets – finance leases
 
$
64
   
$
52
 
Interest on lease liabilities – finance leases
   
70
     
55
 
Total finance lease cost
   
134
     
107
 
                 
Short-term lease cost
   
85
     
181
 
                 
Operating lease cost
   
1,838
     
1,760
 
                 
Total lease cost
    2,057       2,048  
                 
Sublease income
   
(249
)
   
(253
)
                 
Net lease cost
 
$
1,808
   
$
1,795
 
Supplemental Cash Flow Information Related to Operating and Finance Leases

Supplemental cash flow information related to CTBI’s operating and finance leases for the year ended December 31, 2022 was as follows:

(in thousands)
 
Year Ended
December 31, 2022
   
Year Ended
December 31, 2021
 
Finance lease – operating cash flows
 
$
67
   
$
53
 
Finance lease – financing cash flows
 
$
24
   
$
19
 
Operating lease – operating cash flows (fixed payments)
 
$
1,760
   
$
1,693
 
Operating lease – operating cash flows (liability reduction)
 
$
1,424
   
$
948
 
New right-of-use assets – operating leases
 
$
3,469
   
$
0
 
New right-of-use assets – finance leases
  $ 2,070     $ 0  
                 
Weighted average lease term – financing leases
 
27.10 years
   
24.02 years
 
Weighted average lease term – operating leases
 
13.84 years
   
13.39 years
 
Weighted average discount rate – financing leases
   
4.90
%
   
3.70
%
Weighted average discount rate – operating leases
   
3.55
%
   
3.11
%
Maturities of Lease Liabilities

Maturities of lease liabilities as of December 31, 2022 are as follows:

(in thousands)
 
Operating Leases
   
Finance Leases
 
2023
 
$
1,878
   
$
151
 
2024
   
1,853
     
155
 
2025
   
1,748
     
160
 
2026
   
1,731
     
171
 
2027
   
1,620
     
175
 
Thereafter
   
9,393
     
6,362
 
Total lease payments
   
18,223
     
7,174
 
Less imputed interest
   
(4,063
)
   
(3,706
)
Total
 
$
14,160
   
$
3,468