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Commitment and Contingencies (Tables)
12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Summary of Components of Operating Lease Cost and Other Related Information

The components of operating lease cost and other related information are as follows:

 

 

 

For the Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

 

(dollars in thousands)

 

 Operating lease cost

 

$

6,976

 

 

$

6,691

 

 Variable lease cost (Cost excluded from lease payments)

 

 

13

 

 

 

2

 

 Sublease income

 

 

(65

)

 

 

(65

)

 Total operating lease cost

 

$

6,924

 

 

$

6,628

 

Other Information

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities -
   operating cash flows for operating leases

 

$

7,259

 

 

$

6,547

 

 Operating Lease - Operating cash flows (Liability reduction)

 

 

6,252

 

 

 

5,430

 

 Weighted average lease term - operating leases

 

6.13 Years

 

 

6.90 Years

 

 Weighted average discount rate - operating leases

 

 

2.94

%

 

 

2.98

%

Schedule of Total Minimum Lease Payments Due in Future Periods under Lease Agreements

The total minimum lease payments due in future periods under these agreements in effect at December 31, 2021 and December 31, 2020 were as follows:

 

 

 

Future Minimum

 

December 31, 2021

 

Lease Payments

 

 

 

(dollars in thousands)

 

2022

 

$

7,211

 

2023

 

 

6,828

 

2024

 

 

6,085

 

2025

 

 

5,118

 

2026

 

 

3,882

 

Thereafter

 

 

7,962

 

Total minimum lease payments

 

$

37,086

 

Less: interest

 

 

(3,215

)

Total lease liability

 

$

33,871

 

 

 

 

Future Minimum

 

December 31, 2020

 

Lease Payments

 

 

 

(dollars in thousands)

 

2021

 

$

7,173

 

2022

 

 

6,789

 

2023

 

 

6,362

 

2024

 

 

5,493

 

2025

 

 

4,517

 

Thereafter

 

 

11,347

 

Total minimum lease payments

 

 

41,681

 

Less: interest

 

 

(4,233

)

Total lease liability

 

$

37,448