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LEASES | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
LEASES | LEASES A lease provides the lessee the right to control the use of an identified asset for a period of time in exchange for consideration. The Company has primarily entered into operating leases for branches and office space. Most of the Company's leases contain renewal options, which the Company is reasonably certain to exercise. Including renewal options, the Company's leases range from 4 to 29 years. Operating lease right-of-use assets and lease liabilities are included in other assets and accrued interest and other liabilities on the Company's consolidated balance sheets. The Company uses its incremental borrowing rate to determine the present value of the lease payments, as the rate implicit in the Company's leases is not readily determinable. Lease agreements that contain non-lease components are generally accounted for as a single lease component, while variable costs, such as common area maintenance expenses and property taxes, are expensed as incurred. The following table summarizes the Company's right-of-use assets and related lease liabilities for the year ended December 31, 2023 and 2022.
| December 31, 2023 |  | December 31, 2022
Operating lease ROU assets | $ | 10,824 |  |  | $ | 9,270 |
Operating lease ROU liabilities | 11,614 |  |  | 9,976 |
Weighted-average remaining lease term (in years) | 15.1 |  | 14.3
Weighted-average discount rate | 4.4 | % |  | 4.1 | %
The following table presents information related to the Company's operating leases for the years ended December 31, 2023 and 2022:
| December 31, 2023 |  | December 31, 2022
Cash paid for operating lease liabilities | $ | 1,224 |  |  | $ | 1,170 |
Operating lease expense | 1,305 |  |  | 1,406 |
The following table presents maturities of the Company's lease liabilities by year.
2024 | $ | 1,349 |
2025 | 1,371 |
2026 | 1,403 |
2027 | 1,437 |
2028 | 1,194 |
Thereafter | 10,187 |
| 16,941 |
Less: imputed interest | 5,327 |
Total lease liabilities | $ | 11,614 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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