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Leases (Tables)

6 Months Ended

Jun. 30, 2024

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.


		June 30, 2024				December 31, 2023
		(Dollars in thousands)
Lease Assets and Liabilities
ROU assets		$	22,182			$	21,655
Total lease liabilities			24,457				24,056


		Three Months Ended June 30,								Six Months Ended June 30,
		2024				2023				2024				2023
		(Dollars in thousands)
Lease Cost
Operating lease expense (1)		$	1,841			$	1,840			$	3,685			$	3,681
Sublease income			—				—				—				—
Total lease expense		$	1,841			$	1,840			$	3,685			$	3,681

(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		$	1,914			$	1,514			$	3,778			$	3,270


		June 30, 2024				December 31, 2023
Lease Term and Discount Rate
Weighted average remaining lease term (years)			3.94				3.94
Weighted average discount rate			3.86	%			3.48	%

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 June 30, 2024, excluding property taxes and insurance, are as follows:


		June 30, 2024
		(Dollars in thousands)
Year:
2024 (excluding the six months ended June 30, 2024)		$	3,752
2025			7,402
2026			6,185
2027			4,717
2028			2,861
Thereafter			1,642
Total future lease payments			26,559
Less: Imputed interest			(2,102	)
Present value of lease liabilities		$	24,457