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Leases (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Components of lease costs and supplemental information related to leases

The tables below present the components of lease costs and supplemental information related to leases as of and for the periods presented.


						September 30, 2023				December 31, 2022
						(Dollars in thousands)
Lease Assets and Liabilities
ROU assets						$	23,025			$	22,696
Total lease liabilities							25,199				24,458


		Three Months Ended September 30,								Nine Months Ended September 30,
		2023				2022				2023				2022
		(Dollars in thousands)
Lease Cost
Operating lease expense (1)		$	1,832			$	1,846			$	5,513			$	5,541
Sublease income			—				—				—				—
Total lease expense		$	1,832			$	1,846			$	5,513			$	5,541

(1)

Includes short-term leases and variable lease costs, which are immaterial.


Other Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases, net		$	1,682			$	1,882			$	4,951			$	5,593


						September 30, 2023				December 31, 2022
Lease Term and Discount Rate
Weighted average remaining lease term (years)							4.12				4.12
Weighted average discount rate							3.43	%			2.80	%

Future lease payments required for leases that have initial or remaining non-cancelable lease terms

The future lease payments required for leases that have initial or remaining non-cancelable lease terms in excess of one year as of September 30, 2023, excluding property taxes and insurance, are as follows:


		September 30, 2023
		(Dollars in thousands)
Year:
2023 (excluding the nine months ended September 30, 2023)		$	1,691
2024			7,196
2025			6,578
2026			5,313
2027			3,822
Thereafter			2,613
Total future lease payments			27,213
Less: Imputed interest			(2,014	)
Present value of lease liabilities		$	25,199