Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Schedule of Assets and Liabilities

The following table shows finance lease right of use assets and finance lease liabilities as of:

(In Thousands)	Statement of Financial Condition classification	September 30, 2022		December 31, 2021
Finance lease right of use assets	Premises and equipment, net	$	7,113	$	7,435
Finance lease liabilities	Long-term borrowings	7,829		7,963

Schedule of Lease Cost, Term and Discount Rate

The following table shows the components of finance and operating lease expense for the three and nine months ended September 30, 2022 and 2021:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In Thousands)	2022		2021		2022		2021
Finance Lease Cost:
Amortization of right-of-use asset	$	107	$	108	$	322	$	367
Interest expense	61		62		184		195
Operating lease cost	71		73		214		223
Variable lease cost	—		—		—		—
Total Lease Cost	$	239	$	243	$	720	$	785

The following table shows the weighted average remaining lease term and weighted average discount rate for both operating and finance leases outstanding as of September 30, 2022.

	Operating		Finance
Weighted-average term (years)	17.2		23.6
Weighted-average discount rate	3.54	%	3.20	%

Schedule of Operating Lease Liability Maturities

A maturity analysis of operating and finance lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows:

(In Thousands)	Operating		Finance
2022	$	72	$	105
2023	265		421
2024	255		427
2025	257		929
2026	260		387
2027 and thereafter	2,568		9,277
Total undiscounted cash flows	3,677		11,546
Discount on cash flows	(924)		(3,717)
Total lease liability	$	2,753	$	7,829

Schedule of Finance Lease Liability Maturities

A maturity analysis of operating and finance lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows:

(In Thousands)	Operating		Finance
2022	$	72	$	105
2023	265		421
2024	255		427
2025	257		929
2026	260		387
2027 and thereafter	2,568		9,277
Total undiscounted cash flows	3,677		11,546
Discount on cash flows	(924)		(3,717)
Total lease liability	$	2,753	$	7,829