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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Summary of Operating and Finance Lease Right-of-Use Assets and Related Lease Liabilities
Supplemental consolidated balance sheet information for each of the lease classifications as of December 31 was as follows:
20222021
(Dollars in thousands)Operating
Leases
Finance
Lease
Operating
Leases
Finance
Lease
ROU$8,798$2,907$9,055$3,087
Lease liability9,7253,29011,3633,380
Weighted average remaining lease term (in years)6.3016.177.0317.17
Weighted average discount rate3.25 %3.81 %3.12 %3.81 %
Summary of Lease Costs
Interest expense on finance lease liabilities is included in other interest expense, while all other lease costs are included in occupancy expense on Mid Penn’s Consolidated Statements of Income. Following is a summary of lease costs during the years ended December 31:
(In thousands)202220212020
Finance lease cost:
Amortization of ROU asset$180 $180 $180 
Interest expense on lease liability127 130 133 
Total finance lease cost307 310 313 
Operating lease cost2,057 2,002 2,061 
Short-term and equipment lease costs 29 40 
Sublease income(24)(27)(21)
Total lease costs$2,340 $2,314 $2,393 
Supplemental cash flow information related to operating and finance leases for the years ended December 31 was as follows:
(In thousands)2022 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases$127 $130 
Operating cash flows from operating leases2,939 2,113 
Financing cash flows from finance leases9087
Schedule of Future Minimum Rental Payments of Operating Leases
A maturity analysis of operating and finance lease liabilities and a reconciliation of the undiscounted cash flows to the total operating and finance lease liability amounts is presented below.
December 31, 2022
(In thousands)Operating Leases Finance Lease
Lease payments due:
2023$2,170 $217 
20242,143 252 
20251,762 259 
20261,367 260 
2027984 260 
2028 and thereafter2,313 3,213 
Total lease payments10,739 4,461 
Less: imputed interest(1,014)(1,171)
Present value of lease liabilities$9,725 $3,290 
Finance Lease, Liability, Fiscal Year Maturity
A maturity analysis of operating and finance lease liabilities and a reconciliation of the undiscounted cash flows to the total operating and finance lease liability amounts is presented below.
December 31, 2022
(In thousands)Operating Leases Finance Lease
Lease payments due:
2023$2,170 $217 
20242,143 252 
20251,762 259 
20261,367 260 
2027984 260 
2028 and thereafter2,313 3,213 
Total lease payments10,739 4,461 
Less: imputed interest(1,014)(1,171)
Present value of lease liabilities$9,725 $3,290