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Leases
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases
9.
 
LEASES
The Company
 
enters into
 
lease agreements
 
for real
 
estate
 
that is
 
primarily used
 
for office
 
space in
 
the ordinary
course of business.
 
These leases are
 
accounted for
 
as operating
 
leases, whereby lease
 
expense is recognized
 
on
a straight-line basis over the
 
term of the lease.
 
Most leases include an option to extend
 
or renew the lease term.
 
The exercise
 
of the renewal
 
is at the Company’s
 
discretion.
 
The operating lease
 
liability includes lease payments
related
 
to
 
options
 
to
 
extend
 
or
 
renew
 
the
 
lease
 
term
 
if
 
the
 
Company
 
is
 
reasonably
 
certain
 
of
 
exercise
 
those
options.
 
The Company,
 
in determining the present
 
value of lease payments
 
utilizes either the rate
 
implicit in the
lease if
 
that
 
rate
 
is readily
 
determinable
 
or the
 
Company’s
 
incremental
 
secured
 
borrowing
 
rate
 
commensurate
with terms of the underlying lease.
Supplemental information related
 
to operating leases is as follows
 
for the periods indicated:
Year Ended December 31,
(Dollars in thousands)
2022
2021
Lease expense incurred:
Operating lease cost
$
28
$
27
At December 31,
(Dollars in millions)
2022
2021
Operating lease right of use assets
$
128
$
139
Operating lease liabilities
147
158
Year Ended December 31,
(Dollars in millions)
2022
2021
Operating cash flows from operating leases
$
(20)
$
(18)
At December 31,
2022
2021
Weighted average remaining operating lease term
10.8
 
years
11.6 years
Weighted average discount rate on operating leases
4.08
%
4.08
%
Maturities of the existing lease liabilities are expected
 
to occur as follows:
(Dollars in thousands)
2023
$
21
2024
21
2025
18
2026
16
2027
16
Thereafter
95
Undiscounted lease payments
187
Less:
 
present value adjustment
40
Total operating lease liability
$
147