Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

LEASES

NOTE 2 – LEASES

For the years ended December 31, 2024 and 2023, cash paid for amounts included in the measurement of operating lease liabilities was $350 and $338, respectively, and lease right-of-use assets obtained in exchange for new operating lease liabilities was $391 and $437, respectively. The weighted-average remaining lease term was four years as of both December 31, 2024 and 2023, and the weighted-average discount rate was 4.0% and 3.7%, respectively.

The following table summarizes the Partnership's operating lease cost, variable lease cost not included in the lease liability and total lease cost for the years ended December 31:

	2024		2023		2022
Operating lease cost	$	348	$	337	$	328
Variable lease cost		70		67		61
Total lease cost	$	418	$	404	$	389

The Partnership's future undiscounted cash outflows for operating leases are summarized below as of:

	December 31, 2024
2025	$	343
2026		295
2027		234
2028		169
2029		94
Thereafter		102
Total lease payments		1,237
Less: Interest		112
Total present value of lease liabilities	$	1,125

While the rights and obligations for leases that have not yet commenced are not significant, the Partnership regularly enters into new branch office leases.