XML 52 R41.htm IDEA: XBRL DOCUMENT

Leases (Tables)

9 Months Ended

Sep. 30, 2021

Summary of lease-related balances

The following table summarizes lease-related information and balances the Company reported in its unaudited Consolidated Balance Sheets for the periods presented (dollars in thousands):


	As of
	September 30,			December 31,
	2021			2020
Lease balances
Right of use assets	$	11,068		$	7,714
Lease liabilities		11,120			7,757

Supplemental information
Year through which lease terms extend		2031			2032
Weighted average remaining lease term (in years)		6.60			5.93
Weighted average discount rate		2.15	%		2.82	%

Schedule of lease costs and other lease information

The following tables represents lease costs and cash flows related to leases for the periods presented (dollars in thousands):


		Three Months Ended September 30,						Nine Months Ended September 30,
		2021			2020			2021			2020
Lease costs
Operating lease costs		$	656		$	622		$	1,828		$	1,877
Variable lease costs			94			99			394			401
Short-term lease costs			9			15			43			45
Total lease cost		$	759		$	736		$	2,265		$	2,323

Cash flows related to leases
Cash paid for amounts included in the measurement of lease liabilities:
Operating lease cash flows – Fixed payments		$	620		$	616		$	1,756		$	1,839
Operating lease cash flows – Liability reduction			569			546			1,610			1,610
Right of use assets obtained during the period in exchange for operating lease liabilities⁽¹⁾			3,408			—			5,018			128

(1)

The nine months ended September 30, 2021, includes $371 related to a lease obtained in the acquisition of CAC.

Schedule of future undiscounted lease payments

Rent commitments were as follows (dollars in thousands):


		As of
		September 30,
		2021
Rent commitments
Remainder of 2021		$	621
2022			2,288
2023			2,071
2024			1,645
2025			1,416
Thereafter			3,921
Amounts representing interest			(842)
Present value of net future minimum lease payments		$	11,120