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Note 6 - Leases | 3 Months Ended
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Mar. 31, 2025
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 leases have remaining terms up to 15 years. At March 31, 2025, the Company had lease right-of-use assets and lease liabilities totaling $24.8 million and $25.8 million, respectively, compared to $26.1 million and $27.1 million, respectively at December 31, 2024, which are reflected in other assets and other liabilities, respectively, in the Company’s Consolidated Balance Sheets. Maturities of operating lease liabilities are as follows:
|  | March 31, 2025 |
|  | (In Thousands) |
2025 (remaining) |  | $ | 4,197 |
2026 |  |  | 4,808 |
2027 |  |  | 4,206 |
2028 |  |  | 3,362 |
2029 |  |  | 2,795 |
thereafter |  |  | 10,963 |
Total lease payments |  |  | 30,331 |
Less: imputed interest |  |  | (4,491 | )
Present value of operating lease liabilities |  | $ | 25,840 |
As of March 31, 2025, the weighted average remaining term of operating leases was 7.7 years and the weighted average discount rate used in the measurement of operating lease liabilities was 3.81%. Operating cash flows related to leases were $1.5 million and $1.4 million for the three months ended March 31, 2025 and 2024, respectively. Lease costs during the three months ended March 31, 2025 and 2024 were as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Operating lease cost |  | $ | 1,491 |  |  | $ | 1,393 |
Variable lease cost |  |  | 226 |  |  |  | 216 |
Sublease income |  |  | (4 | ) |  |  | (5 | )
Net lease cost |  | $ | 1,713 |  |  | $ | 1,604 |

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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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