Right-of-Use Assets and Lease Liabilities (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Finance and Operating Lease Details

The following table presents our lease expense for finance and operating leases for the years ended December 31:

(dollars in thousands)	2024		2023		2022
Operating lease expense	$	5,126	$	5,199	$	5,169
Amortization of ROU assets - finance leases	90		90		179
Interest on lease liabilities - finance leases	56		60		65
Total Lease Expense	$	5,272	$	5,349	$	5,413

The following table presents our ROU assets, weighted average term and the discount rates for finance and operating leases as of December 31:

(dollars in thousands)	2024			2023
Operating Leases
ROU assets	$	40,331		$	42,100
Operating cash flows	$	7,253		$	6,996
Finance Leases
ROU assets	$	695		$	786
Operating cash flows	$	56		$	60
Financing cash flows	$	75		$	69
Weighted Average Lease Term - Years
Operating leases	17.2			17.8
Finance leases	11.4			12.0
Weighted Average Discount Rate
Operating leases	5.99		%	5.93		%
Finance leases	6.03		%	6.02		%

Finance and Operating Lease Details

The following table presents our lease expense for finance and operating leases for the years ended December 31:

(dollars in thousands)	2024		2023		2022
Operating lease expense	$	5,126	$	5,199	$	5,169
Amortization of ROU assets - finance leases	90		90		179
Interest on lease liabilities - finance leases	56		60		65
Total Lease Expense	$	5,272	$	5,349	$	5,413

The following table presents our ROU assets, weighted average term and the discount rates for finance and operating leases as of December 31:

(dollars in thousands)	2024			2023
Operating Leases
ROU assets	$	40,331		$	42,100
Operating cash flows	$	7,253		$	6,996
Finance Leases
ROU assets	$	695		$	786
Operating cash flows	$	56		$	60
Financing cash flows	$	75		$	69
Weighted Average Lease Term - Years
Operating leases	17.2			17.8
Finance leases	11.4			12.0
Weighted Average Discount Rate
Operating leases	5.99		%	5.93		%
Finance leases	6.03		%	6.02		%

Maturity Analysis of Lease Liabilities for Operating Leases

The following table presents the maturity analysis of lease liabilities for finance and operating leases as of December 31, 2024:

(dollars in thousands)	Finance		Operating			Total
Maturity Analysis
2025	$	132		$	4,920	$	5,052
2026	133			4,816		4,949
2027	134			4,565		4,699
2028	130			4,603		4,733
2029	60			4,461		4,521
Thereafter	687			55,037		55,724
Total	1,276			78,402		79,678
Less: Present value discount	(380)			(31,549)		(31,929)
Lease Liabilities	$	896		$	46,853	$	47,749

Maturity Analysis of Lease Liabilities for Finance Leases

The following table presents the maturity analysis of lease liabilities for finance and operating leases as of December 31, 2024:

(dollars in thousands)	Finance		Operating			Total
Maturity Analysis
2025	$	132		$	4,920	$	5,052
2026	133			4,816		4,949
2027	134			4,565		4,699
2028	130			4,603		4,733
2029	60			4,461		4,521
Thereafter	687			55,037		55,724
Total	1,276			78,402		79,678
Less: Present value discount	(380)			(31,549)		(31,929)
Lease Liabilities	$	896		$	46,853	$	47,749