Operating Lease Liabilities

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Operating Lease Liabilities

NOTE 10 – OPERATING LEASE LIABILITIES:

The current and noncurrent portions of the Corporation’s operating lease arrangements as of December 31, 2024 and 2023 were as follows:

	2024		2023
Operating lease liabilities – current portion	$	878	$	946
Noncurrent operating lease liabilities		3,714		3,822
Total operating lease liabilities	$	4,592	$	4,768

Future operating lease payments as of December 31, 2024 were as follows:

2025	$	903
2026		725
2027		656
2028		623
2029		520
2030 and thereafter		3,070
Total undiscounted payments		6,497
Less: amount representing interest		(1,905	)
Present value of net minimum lease payments	$	4,592

At December 31, 2024 and 2023, the weighted-average remaining lease term approximated 6.18 years and 6.83 years, respectively, and the weighted-average discount rate approximated 5.84% and 5.43%, respectively.

Cash paid for amounts included in the measurement of operating lease liabilities totaled $1,105 and $925 for the years ended December 31, 2024 and 2023, respectively, and was classified as operating cash flows in the consolidated statements of cash flows.

Short-term lease costs for leases with an original maturity of less than one year were $564 and $565 for the years ended December 31, 2024 and 2023, respectively.