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Leases | 9 Months Ended
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Sep. 30, 2022
Leases [Abstract] |
Leases | (6) LEASES Lessee The Company has operating leases, which primarily consist of office space in buildings, ATM locations, storage facilities, parking lots, equipment and land on which it owns certain buildings. The following table presents rent expense for all operating leases, including those rented on a monthly or temporary basis as of the periods indicated:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
|  | (Dollars in thousands) |
Rental expense |  | $ | 460 |  |  | $ | 226 |  |  | $ | 1,376 |  |  | $ | 1,192 |
As of September 30, 2022, the right of use lease asset included in accrued interest receivable and other assets on the consolidated balance sheet totaled $6.0 million, and a related lease liability included in accrued interest payable and other liabilities on the consolidated balance sheet totaled $5.8 million. As of September 30, 2022, the Company's operating leases have a weighted-average remaining lease term of 3.6 years and a weighted-average discount rate of 2.4 percent. The following table presents minimum future commitments by year for the Company’s operating leases. Such commitments are reflected as undiscounted values and are reconciled to the discounted present value recognized on the consolidated balance sheet.
|  | September 30, 2022 |
|  | (Dollars in thousands) |
2022 (three months) |  | $ | 498 |
2023 |  |  | 1,692 |
2024 |  |  | 1,334 |
2025 |  |  | 1,073 |
2026 |  |  | 672 |
Thereafter |  |  | 1,329 |
Total lease payments |  |  | 6,598 |
Less imputed Interest |  |  | (770 | )
Operating lease liability |  | $ | 5,828 |
Lessor The Company is a lessor of operating leases, which primarily consist of office space in buildings and parking lots. These assets are classified on the consolidated balance sheet as premises and equipment. The Company had operating lease revenue of $1.3 million and $1.1 million for the three months ended September 30, 2022 and September 30, 2021, respectively. The Company had operating lease revenue of $4.0 million and $3.7 million for the nine months ended September 30, 2022 and September 30, 2021, respectively. Lease revenue is included in occupancy, net on the consolidated statement of comprehensive income. The Company does not have operating leases that extend beyond 2031. The following table presents the scheduled minimum future contractual rent to be received under the remaining non-cancelable term of the operating leases:
|  | September 30, 2022 |
|  | (Dollars in thousands) |
2022 (three months) |  | $ | 920 |
2023 |  |  | 2,974 |
2024 |  |  | 2,849 |
2025 |  |  | 2,150 |
2026 |  |  | 1,778 |
2027-2031 |  |  | 3,547 |
Total future minimum lease payments |  | $ | 14,218 |

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- Definition Lessee and lessor operating leases. + References No definition available. + Details
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- References No definition available. + Details
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Period Type: | duration