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Leases (Tables)
9 Months Ended
Sep. 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 September 30,

 

 

 

2023

 

 

2022

 

 

 

(dollars in thousands)

 

 Operating lease cost

 

$

1,696

 

 

$

1,742

 

 Variable lease cost (cost excluded from lease payments)

 

 

5

 

 

 

11

 

 Sublease income

 

 

(128

)

 

 

(66

)

 Total operating lease cost

 

$

1,573

 

 

$

1,687

 

Other Information

 

 

 

 

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

 

$

1,845

 

 

$

1,811

 

 Operating Lease - operating cash flows (liability reduction)

 

 

1,661

 

 

 

1,599

 

 Weighted average lease term - operating leases

 

5.06 Years

 

 

5.65 Years

 

 Weighted average discount rate - operating leases

 

 

2.99

%

 

 

2.99

%

 

 

 

Nine Months Ended September 30,

 

 

 

2023

 

 

2022

 

 

 

(dollars in thousands)

 

 Operating lease cost

 

$

5,106

 

 

$

5,228

 

 Variable lease cost (cost excluded from lease payments)

 

 

19

 

 

 

30

 

 Sublease income

 

 

(384

)

 

 

(173

)

 Total operating lease cost

 

$

4,741

 

 

$

5,085

 

Other Information

 

 

 

 

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

 

$

5,509

 

 

$

5,449

 

 Operating Lease - operating cash flows (liability reduction)

 

 

4,951

 

 

 

4,790

 

 Weighted average lease term - operating leases

 

5.06 Years

 

 

5.65 Years

 

 Weighted average discount rate - operating leases

 

 

2.99

%

 

 

2.99

%

 

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

The total minimum lease payments due in future periods under these agreements in effect at September 30, 2023 were as follows:

 

 

 

Future Minimum

 

September 30, 2023

 

Lease Payments

 

 

 

(dollars in thousands)

 

Remainder of 2023

 

$

2,418

 

2024

 

 

6,705

 

2025

 

 

5,719

 

2026

 

 

4,472

 

2027

 

 

2,675

 

Thereafter

 

 

6,286

 

Total minimum lease payments

 

$

28,275

 

Less: interest

 

 

(4,079

)

Total lease liability

 

$

24,196