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Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases Leases
Mid Penn has operating and finance leases for certain premises and equipment.
Operating and finance lease ROU assets, as well as operating lease liabilities, are presented as separate line items on the Consolidated Balance Sheet, while finance lease liabilities are classified as a component of long-term debt.
Supplemental consolidated balance sheet information for each of the lease classifications as of December 31 was as follows:
20242023
(Dollars in thousands)Operating
Leases 		Finance
Lease 		Operating
Leases 		Finance
Lease
ROU$7,699$2,548$8,953$2,727
Lease liability8,0923,0639,2853,197
Weighted average remaining lease term (in years)5.1214.175.6015.17
Weighted average discount rate3.68 %3.81 %3.66 %3.81 %
Interest expense on finance lease liabilities is included in other interest expense, while all other lease costs are included in occupancy expense on Mid Penn’s Consolidated Statements of Income. Following is a summary of lease costs during the years ended December 31:
(In thousands)202420232022
Finance lease cost:
Amortization of ROU asset$179 $180 $180 
Interest expense on lease liability119 123 127 
Total finance lease cost298 303 307 
Operating lease cost2,322 2,081 2,057 
Sublease income(21)(29)(24)
Total lease costs$2,599 $2,355 $2,340 
The rental expense paid to related parties was $274 thousand for each of 2024, 2023 and 2022.
Supplemental cash flow information related to operating and finance leases for the years ended December 31 was as follows:
(In thousands)2024 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases$119 $123 
Operating cash flows from operating leases2,382 2,556 
Financing cash flows from finance leases13493
A maturity analysis of operating and finance lease liabilities and a reconciliation of the undiscounted cash flows to the total operating and finance lease liability amounts is presented below.
December 31, 2024
(In thousands)Operating Leases Finance Lease
Lease payments due:
2025$2,361 $260 
20262,179 260 
20271,878 260 
20281,136 259 
2029807 276 
2030 and thereafter617 2,677 
Total lease payments8,978 3,992 
Less: imputed interest(886)(929)
Present value of lease liabilities$8,092 $3,063 
The future minimum payments to related parties are $185 thousand for 2025, $178 thousand for 2026, 2027, 2028 and 2029 and $638 thousand thereafter.
There were no sale and leaseback transactions or leveraged leases as of December 31, 2024 or 2023. There were no leases that had not commenced as of December 31, 2024.
Leases Leases
Mid Penn has operating and finance leases for certain premises and equipment.
Operating and finance lease ROU assets, as well as operating lease liabilities, are presented as separate line items on the Consolidated Balance Sheet, while finance lease liabilities are classified as a component of long-term debt.
Supplemental consolidated balance sheet information for each of the lease classifications as of December 31 was as follows:
20242023
(Dollars in thousands)Operating
Leases 		Finance
Lease 		Operating
Leases 		Finance
Lease
ROU$7,699$2,548$8,953$2,727
Lease liability8,0923,0639,2853,197
Weighted average remaining lease term (in years)5.1214.175.6015.17
Weighted average discount rate3.68 %3.81 %3.66 %3.81 %
Interest expense on finance lease liabilities is included in other interest expense, while all other lease costs are included in occupancy expense on Mid Penn’s Consolidated Statements of Income. Following is a summary of lease costs during the years ended December 31:
(In thousands)202420232022
Finance lease cost:
Amortization of ROU asset$179 $180 $180 
Interest expense on lease liability119 123 127 
Total finance lease cost298 303 307 
Operating lease cost2,322 2,081 2,057 
Sublease income(21)(29)(24)
Total lease costs$2,599 $2,355 $2,340 
The rental expense paid to related parties was $274 thousand for each of 2024, 2023 and 2022.
Supplemental cash flow information related to operating and finance leases for the years ended December 31 was as follows:
(In thousands)2024 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases$119 $123 
Operating cash flows from operating leases2,382 2,556 
Financing cash flows from finance leases13493
A maturity analysis of operating and finance lease liabilities and a reconciliation of the undiscounted cash flows to the total operating and finance lease liability amounts is presented below.
December 31, 2024
(In thousands)Operating Leases Finance Lease
Lease payments due:
2025$2,361 $260 
20262,179 260 
20271,878 260 
20281,136 259 
2029807 276 
2030 and thereafter617 2,677 
Total lease payments8,978 3,992 
Less: imputed interest(886)(929)
Present value of lease liabilities$8,092 $3,063 
The future minimum payments to related parties are $185 thousand for 2025, $178 thousand for 2026, 2027, 2028 and 2029 and $638 thousand thereafter.
There were no sale and leaseback transactions or leveraged leases as of December 31, 2024 or 2023. There were no leases that had not commenced as of December 31, 2024.