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PREMISES AND EQUIPMENT | 9 Months Ended
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Sep. 30, 2025
PREMISES AND EQUIPMENT |
PREMISES AND EQUIPMENT | NOTE 9: PREMISES AND EQUIPMENT Major classifications of premises and equipment, stated at cost, were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31,
​ |  | 2025 |  | 2024
​ | ​ | (In Thousands)
Land | ​ | $ | 39,638 | ​ | $ | 39,340
Buildings and improvements | ​ |  | 109,482 | ​ |  | 107,525
Furniture, fixtures and equipment | ​ |  | 72,091 | ​ |  | 69,916
Operating leases right of use asset | ​ |  | 5,616 | ​ |  | 6,390
​ | ​ |  | 226,827 | ​ |  | 223,171
Less: accumulated depreciation | ​ |  | 93,058 | ​ |  | 90,705
| ​ | $ | 133,769 | ​ | $ | 132,466
​ Leases. The Company records leases in accordance with ASU 2016-02, Leases (Topic 842). The amount of the right of use asset and corresponding lease liability will fluctuate based on the Company’s lease terminations, new leases and lease modifications and renewals. As of September 30, 2025, the lease right of use asset value was $5.6 million and the corresponding lease liability was $5.8 million. As of December 31, 2024, the lease right of use asset value was $6.4 million and the corresponding lease liability was $6.6 million. At September 30, 2025, expected lease terms ranged from 1.8 years to 13.2 years with a weighted-average lease term of 6.3 years. The weighted-average discount rate at September 30, 2025 was 3.99%. For the three months ended September 30, 2025 and 2024, total lease expense was $433,000 and $408,000, respectively. For both the nine months ended September 30, 2025 and 2024, total lease expense was $1.3 million. The Company’s short-term leases related to offsite ATMs have both fixed and variable lease payment components, based on the number of transactions at the various ATMs. The variable portion of these lease payments is not material and the lease expense related to ATMs for the three months ended September 30, 2025 and 2024 was $82,000 and $87,000, respectively. The lease expense related to ATMs for the nine months ended September 30, 2025 and 2024 was $237,000 and $258,000, respectively. The Company does not sublease any of its leased facilities; however, it does lease to other parties portions of facilities that it owns. In terms of being the lessor in these circumstances, all of these lease agreements are classified as operating leases. In the three months ended September 30, 2025 and 2024, income recognized from these lease agreements was $369,000 and $303,000, respectively, and was included in occupancy and equipment expense. In the nine months ended September 30, 2025 and 2024, income recognized from these lease agreements was $1.0 million and $984,000, respectively, and was included in occupancy and equipment expense. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2025 |  | December 31, 2024
​ | ​ | (In Thousands)
Statement of Financial Condition | ​ | ​ | ​ | ​ | ​ | ​
Operating leases right of use asset | ​ | $ | 5,616 | ​ | $ | 6,390
Operating leases liability | ​ | $ | 5,822 | ​ | $ | 6,621
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the Three Months Ended
​ | ​ | September 30, 2025 |  | September 30, 2024
​ | ​ | (In Thousands)
Statement of Income | ​ | ​ | ​ | ​ | ​ | ​
Operating lease costs classified as occupancy and equipment expense (includes short-term lease costs and amortization of right of use asset) | ​ | $ | 433 | ​ | $ | 408
​ | ​ | ​ | ​ | ​ | ​ | ​
Supplemental Cash Flow Information | ​ | ​ | ​ | ​ | ​ | ​
Cash paid for amounts included in the measurement of lease liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Operating cash flows from operating leases | ​ | $ | 433 | ​ | $ | 404
Right of use assets obtained in exchange for lease obligations: | ​ | ​ | ​ | ​ | ​ | ​
Operating leases | ​ | $ | — | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Nine Months Ended
​ |  | September 30, 2025 |  | September 30, 2024
​ | ​ | (In Thousands)
Statement of Income | ​ | ​ | ​ | ​ | ​ | ​
Operating lease costs classified as occupancy and equipment expense (includes short-term lease costs and amortization of right of use asset) | ​ | $ | 1,254 | ​ | $ | 1,303
​ | ​ | ​ | ​ | ​ | ​ | ​
Supplemental Cash Flow Information | ​ |  |  | ​ |  |
Cash paid for amounts included in the measurement of lease liabilities: | ​ |  |  | ​ |  |
Operating cash flows from operating leases | ​ | $ | 1,249 | ​ | $ | 1,282
Right of use assets obtained in exchange for lease obligations: | ​ |  |  | ​ |  |
Operating leases | ​ | $ | 24 | ​ | $ | 814
​ At September 30, 2025, future expected lease payments for leases with terms exceeding one year were as follows (in thousands): ​
​ | ​ | ​ | ​
2025 |  | $ | 324
2026 | ​ |  | 1,334
2027 | ​ |  | 1,285
2028 | ​ |  | 1,018
2029 | ​ |  | 663
2030 | ​ | ​ | 506
Thereafter | ​ |  | 1,482
​ | ​ | ​ | ​
Future lease payments expected | ​ |  | 6,612
​ | ​ | ​ | ​
Less: interest portion of lease payments | ​ |  | (790)
​ | ​ | ​ | ​
Lease liability | ​ | $ | 5,822
​

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