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Leases | 12 Months Ended
--- | ---
Dec. 31, 2023
Leases [Abstract] |
Leases | (20) 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. Rental expense on all operating leases, including those rented on a monthly or temporary basis were as follows (Dollars in thousands):
Year Ending December 31: |  |  |
2023 |  | $ | 2,066 |
2022 |  |  | 1,865 |
2021 |  |  | 1,560 |
A right of use lease asset included in accrued interest receivable and other assets on the consolidated balance sheet totaled $5.9 million at December 31, 2023 compared to $5.6 million at December 31, 2022, and a related lease liability included in accrued interest payable and other liabilities on the consolidated balance sheet totaled $5.8 million at December 31, 2023 compared to $5.4 million at December 31, 2022. As of December 31, 2023, our operating leases have a weighted-average remaining lease term of 3.2 years and a weighted-average discount rate of 2.6 percent. Maturity of Operating Lease Liabilities 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.
|  | December 31, 2023 |
|  | (Dollars in thousands) |
2024 |  | $ | 2,022 |
2025 |  |  | 1,653 |
2026 |  |  | 1,085 |
2027 |  |  | 731 |
2028 |  |  | 409 |
Thereafter |  |  | 312 |
Total lease payments |  |  | 6,212 |
Less imputed interest |  |  | (375 | )
Operating lease liability |  | $ | 5,837 |
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 $5.9 million, $5.4 million and $4.9 million for the years ended December 31, 2023, 2022 and 2021, respectively. Lease revenue is included in occupancy, net on the consolidated statements of comprehensive income. Future Minimum Lease Payments to be received 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:
|  | December 31, 2023 |
|  | (Dollars in thousands) |
2024 |  | $ | 3,555 |
2025 |  |  | 2,796 |
2026 |  |  | 2,535 |
2027 |  |  | 2,181 |
2028 |  |  | 1,951 |
2029-2031 |  |  | 4,269 |
Total future minimum lease payments |  | $ | 17,287 |

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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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