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Leases (Tables)
9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Summary of Supplemental Balance Sheet Information

The following table contains supplemental balance sheet information related to leases (dollars in thousands):

 

 

 

September 30, 2025

 

 

September 30, 2024

 

 

December 31, 2024

 

Operating lease right-of-use assets

 

$

13,329

 

 

$

14,560

 

 

$

13,861

 

Operating lease liabilities

 

 

13,876

 

 

 

14,873

 

 

 

14,190

 

Weighted-average remaining lease term (in years)

 

 

4.7

 

 

 

4.9

 

 

4.7

 

Weighted-average discount rate

 

 

3.52

%

 

 

3.18

%

 

 

3.22

%

Summary of Maturities of Lease Liabilities

Maturities of lease liabilities are as follows (in thousands):

Year ending December 31,

 

 

 

2025

 

$

837

 

2026

 

 

3,327

 

2027

 

 

3,090

 

2028

 

 

2,435

 

2029

 

 

1,979

 

Thereafter

 

 

3,822

 

Total lease payments

 

 

15,490

 

Less imputed interest

 

 

(1,614

)

Total lease liability

 

$

13,876

 

Summary of Components of Lease Expense

The components of lease expense for the three and nine months ended September 30, 2025 and 2024 were as follows (in thousands):

 

 

Three months ended

 

 

Nine months ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Operating lease cost

 

$

837

 

 

$

885

 

 

$

2,504

 

 

$

2,553

 

Short-term lease cost

 

 

40

 

 

 

23

 

 

 

101

 

 

 

89

 

Variable lease cost

 

 

303

 

 

 

216

 

 

 

901

 

 

 

572

 

Total lease cost

 

 

1,180

 

 

 

1,124

 

 

 

3,506

 

 

 

3,214

 

Income from subleases

 

 

(79

)

 

 

(110

)

 

 

(250

)

 

 

(317

)

Net lease cost

 

$

1,101

 

 

$

1,014

 

 

$

3,256

 

 

$

2,897

 

Summary of Operating Lease Cash Flows Cash paid for amounts included in the measurement of lease liabilities was (in thousands):

 

 

September 30, 2025

 

 

September 30, 2024

 

Operating cash flows from operating leases

 

$

2,483

 

 

$

2,502