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Leases (Tables)
6 Months Ended
Jun. 30, 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 June 30,

 

 

 

2023

 

 

2022

 

 

 

(dollars in thousands)

 

 Operating lease cost

 

$

1,673

 

 

$

1,743

 

 Variable lease cost (cost excluded from lease payments)

 

 

7

 

 

 

1

 

 Sublease income

 

 

(128

)

 

 

(17

)

 Total operating lease cost

 

$

1,552

 

 

$

1,727

 

Other Information

 

 

 

 

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

 

$

1,821

 

 

$

1,805

 

 Operating Lease - operating cash flows (liability reduction)

 

 

1,637

 

 

 

1,586

 

 Weighted average lease term - operating leases

 

5.18 Years

 

 

5.80 Years

 

 Weighted average discount rate - operating leases

 

 

3.06

%

 

 

2.97

%

 

 

 

For the Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

 

(dollars in thousands)

 

 Operating lease cost

 

$

3,411

 

 

$

3,486

 

 Variable lease cost (cost excluded from lease payments)

 

 

14

 

 

 

2

 

 Sublease income

 

 

(256

)

 

 

(33

)

 Total operating lease cost

 

$

3,169

 

 

$

3,455

 

Other Information

 

 

 

 

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

 

$

3,664

 

 

$

3,638

 

 Operating Lease - operating cash flows (liability reduction)

 

 

3,291

 

 

 

3,191

 

 Weighted average lease term - operating leases

 

5.18 Years

 

 

5.80 Years

 

 Weighted average discount rate - operating leases

 

 

3.06

%

 

 

2.97

%

 

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 June 30, 2023 were as follows:

 

 

 

Future Minimum

 

June 30, 2023

 

Lease Payments

 

 

 

(dollars in thousands)

 

Remainder of 2023

 

$

3,552

 

2024

 

 

6,301

 

2025

 

 

5,314

 

2026

 

 

4,065

 

2027

 

 

2,267

 

Thereafter

 

 

5,962

 

Total minimum lease payments

 

$

27,461

 

Less: interest

 

 

(2,085

)

Total lease liability

 

$

25,376