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Leases (Tables)
3 Months Ended
Mar. 31, 2023
Leases [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:

 

 

Three Months Ended March 31,

 

 

 

2023

 

 

2022

 

 

 

(dollars in thousands)

 

 Operating lease cost

 

$

1,737

 

 

$

1,744

 

 Variable lease cost (cost excluded from lease payments)

 

 

7

 

 

 

1

 

 Sublease income

 

 

(128

)

 

 

(16

)

 Total operating lease cost

 

$

1,616

 

 

$

1,729

 

Other Information

 

 

 

 

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

 

$

1,843

 

 

$

1,833

 

 Operating Lease - operating cash flows (liability reduction)

 

 

1,653

 

 

 

1,606

 

 Weighted average lease term - operating leases

 

5.33 Years

 

 

5.96 Years

 

 Weighted average discount rate - operating leases

 

 

3.03

%

 

 

2.95

%

 

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

The total minimum lease payments due in future periods for lease agreements in effect at March 31, 2023 were as follows:

 

 

 

Future Minimum

 

March 31, 2023

 

Lease Payments

 

 

 

(dollars in thousands)

 

Remainder of 2023

 

$

7,057

 

2024

 

 

5,909

 

2025

 

 

5,153

 

2026

 

 

3,425

 

2027

 

 

2,202

 

Thereafter

 

 

5,397

 

Total minimum lease payments

 

$

29,143

 

Less: interest

 

 

(3,061

)

Total lease liability

 

$

26,082