Leases (Tables)

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Information About Leases

The right-of-use asset and lease liability are included in other assets and other liabilities, respectively, in the consolidated balance sheets. There were no new leases executed during the first three months of 2023. The following tables present information about the Company’s leases:

(dollars in thousands)	March 31, 2023
Lease liabilities	$	1,552
Right-of-use assets	$	1,478
Weighted average remaining lease term	4.04 years
Weighted average discount rate		2.91	%

Lease Cost

	Three Months Ended March 31,
Lease cost (in thousands)	2023		2022
Operating lease cost	$	101	$	82
Total lease cost	$	101	$	82
Cash paid for amounts included in the measurement of lease liabilities	$	91	$	84

Maturity of Operating Lease Liabilities

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

	As of
Lease payments due (in thousands)	March 31, 2023
Nine months ending December 31, 2023	$	326
Twelve months ending December 31, 2024		436
Twelve months ending December 31, 2025		395
Twelve months ending December 31, 2026		278
Thereafter		231
Total undiscounted cash flows	$	1,666
Discount		(114	)
Lease liabilities	$	1,552