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Note 6 - Leases | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] |
NOTE 6. | LEASES
The Company leases space under non-cancelable operating leases for several of its banking offices and certain office equipment. The Company reports its right-of-use asset in other assets and its lease liabilities in other liabilities in its Consolidated Balance Sheets. Supplemental balance sheet information related to operating leases is as follows:
|  | December 31, 2024 |  |  | December 31, 2023 |
Right-of-use assets |  | $ | 26,059 |  |  | $ | 26,451 |
Lease liabilities |  | $ | 27,053 |  |  | $ | 27,435 |
Weighted average remaining lease term |  |  | 7.8 |  |  |  | 8.2 |
Weighted average discount rate |  |  | 3.8 | % |  |  | 3.7 | %
Lease costs during the years ended December 31, 2024 and 2023 were as follows (in thousands):
|  | 2024 |  |  | 2023 |
Operating lease cost |  | $ | 5,706 |  |  | $ | 5,202 |
Short-term lease cost |  |  | 75 |  |  |  | - |
Variable lease cost |  |  | 852 |  |  |  | 803 |
Sublease income |  |  | (19 | ) |  |  | (21 | )
Net lease cost |  | $ | 6,614 |  |  | $ | 5,984 |
The following table reconciles future undiscounted lease payments due under non-cancelable leases to the aggregate lease liability as of December 31, 2024:
|  | (In Thousands) |
2024 |  | $ | 5,651 |
2025 |  |  | 4,808 |
2026 |  |  | 4,206 |
2027 |  |  | 3,362 |
2028 |  |  | 2,795 |
Thereafter |  |  | 10,961 |
Total lease payments |  | $ | 31,783 |
Less: imputed interest |  |  | (4,730 | )
Present value of operating lease liabilities |  | $ | 27,053 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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