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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Components of Lease Expense and Other lease Information

The components of lease expense and other lease information as of and during the years ended December 31, 2024, 2023 and 2022 were as follows:

(in thousands)

 

2024

 

2023

 

2022

Operating lease cost

$

4,631

$

4,935

$

4,957

Variable lease cost

1,103

1,469

1,423

Sublease income

(170)

(469)

(555)

Total lease cost

$

5,564

$

5,935

$

5,825

Cash paid for amounts included in measurement of lease liabilities

Operating cash flows from operating leases

$

4,083

$

5,407

$

5,435

ROU assets obtained in exchange for new operating lease liabilities

$

4,392

$

5,805

$

2,694

Reduction to ROU assets resulting from reduction to lease liabilities

$

$

300

$

2

Other non-cash reductions to ROU assets

$

$

$

73

(in thousands)

 

2024

 

2023

Operating lease ROU assets

$

14,016

$

13,666

Operating lease liabilities

$

15,711

$

14,880

Weighted-average remaining lease term - operating leases

6.01

years

6.08

years

Weighted-average discount rate - operating leases

3.63

%

3.21

%

Schedule of Future Minimum Lease Payments under Non-cancellable Leases

Future minimum lease payments under non-cancellable leases as of December 31, 2024 were as follows:

(in thousands)

 

2024

2025

$

4,373

2026

3,713

2027

2,288

2028

1,617

2029

1,443

Thereafter

4,489

Total future minimum lease payments

$

17,923

Less imputed interest

(2,212)

Total operating lease liability

$

15,711