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Leases
3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Leases Leases
The Company records a ROUA on the consolidated balance sheets for those leases that convey rights to control use of identified assets for a period of time in exchange for consideration. The Company also records a lease liability on the consolidated balance sheets for the present value of future payment commitments. All of the Company’s leases are comprised of operating leases in which the Company is lessee of real estate property for branches, ATM locations, and general administration and operations. The Company has elected not to include short-term leases (i.e. leases with initial terms of 12 month or less) within the ROUA and lease liability.
The following table presents the components of lease expense for the periods ended:
Three months ended March 31,
(in thousands)20252024
Operating lease cost$1,418 $1,434 
Short-term lease cost45 52 
Variable lease cost (income)(10)13 
Total lease cost$1,453 $1,499 
The following table presents supplemental cash flow information related to leases for the periods ended:
Three months ended March 31,
(in thousands)20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$1,509 $1,568 
ROUA obtained in exchange for operating lease liabilities$471 $1,327 
The following table presents the weighted average operating lease term and discount rate as of the period ended:
March 31,
20252024
Weighted-average remaining lease term (years)7.67.9
Weighted-average discount rate3.56 %3.42 %
At March 31, 2025, future expected operating lease payments are as follows:
(in thousands)
Periods ending December 31,
2025$4,207 
20265,125 
20274,465 
20283,280 
20292,327 
Thereafter8,779 
28,183 
Discount for present value of expected cash flows(3,526)
Lease liability at March 31, 2025$24,657