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Leases (Tables) | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Summary of Minimum Annual Lease Payments under Lease Terms | The following table presents the minimum annual lease payments under the terms of these leases, inclusive of renewal options that the Company is reasonably certain to renew, at September 30, 2024:
|  | Operating |  | Finance
(dollars in thousands; unaudited) |  | September 30, 2024 |  | September 30, 2024
October 1 to December 31, 2024 |  | $ | 257 |  |  | $ | 9 |
2025 |  | 977 |  |  | 36 |
2026 |  | 977 |  |  | 27 |
2027 |  | 913 |  |  | — |
2028 |  | 692 |  |  | — |
2029 and thereafter |  | 2,763 |  |  | — |
Total lease payments |  | 6,579 |  |  | 72 |
Less: amounts representing interest |  | 1,038 |  |  | 4 |
Present value of lease liabilities |  | $ | 5,541 |  |  | $ | 68 |
Summary of Components of Total Lease Expense and Operating Cash Flows | The following table presents the components of total lease expense, including finance lease costs and operating cash flows for the three and nine months ended September 30, 2024 and 2023:
| Three Months Ended |  | Nine Months Ended
| September 30, 2024 |  | September 30, 2023 |  | September 30, 2024 |  | September 30, 2023
| (dollars in thousands; unaudited)
Lease expense: |  |  |  |  |  |  |
Operating lease expense (1) | $ | 255 |  |  | $ | 251 |  |  | $ | 766 |  |  | $ | 819 |
Variable lease expense | 85 |  |  | 69 |  |  | 276 |  |  | 173 |
Finance lease cost |  |  |  |  |  |  |
Right-of-use amortization (2) | 8 |  |  | — |  |  | 34 |  |  | — |
Interest expense (3) | 1 |  |  | — |  |  | 4 |  |  | — |
Total lease expense | $ | 349 |  |  | $ | 320 |  |  | $ | 1,080 |  |  | $ | 992 |
Cash paid: |  |  |  |  |  |  |
Cash paid from operating leases | $ | 344 |  |  | $ | 320 |  |  | $ | 1,052 |  |  | $ | 1,013 |
Cash paid from finance leases | $ | 9 |  |  | $ | — |  |  | $ | 39 |  |  | $ | — |
(1)Included in net occupancy expense and in the Condensed Consolidated Statements of Income (unaudited). (2)Included in other expense in the Condensed Consolidated Statements of Income (unaudited). (3)Included in interest on borrowed funds Condensed Consolidated Statements of Income (unaudited).

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- References No definition available. + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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