Leases

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Leases

Leases:

The Company has operating leases for branch office locations, vehicles and certain office equipment such as printers, copiers and faxes. The leases have remaining lease terms of up to 18 years, some of which include options to extend the lease for up to 15 years and some of which include options to terminate the lease in 1.5 years.

The right of use asset and lease liability were $6.1 million and $6.4 million as of June 30, 2022 and $6.4 million and $6.6 million at December 31, 2021.

Lease payments made for the three and six month periods ended June 30, 2022, were $217 thousand and $454 thousand, while lease payments made for the three and six month periods ended June 30, 2021, were $201 thousand and $403 thousand, respectively. Interest expense and amortization expense on finance leases for the three month period ended June 30, 2022, was $37 thousand and $166 thousand, and $76 thousand and $332 thousand for the six month period ended June 30, 2022. Interest expense and amortization expense on finance leases for the three month period ended June 30, 2021, was $36 thousand and $121 thousand, and $72 thousand and $242 thousand for the six month period ended June 30, 2021. The average remaining lease term for all leases was 5.92 years as of June 30, 2022 and the weighted-average discount rate was 2.46%.

Maturities of lease liabilities are as follows as of June 30, 2022:

2022 (6 months)	$	413
2023		831
2024		662
2025		620
2026		586
Thereafter		4,245
Total Payments		7,357
Less: Imputed Interest		(1,002	)
Total	$	6,355