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LEASES
3 Months Ended
Mar. 31, 2024
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 unaudited condensed 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 operating leases at March 31, 2024 and December 31, 2023:
March 31, 2024December 31, 2023
Operating lease ROU assets$10,593 $10,824 
Operating lease ROU liabilities11,403 11,614 
Weighted-average remaining lease term (in years)15.015.1
Weighted-average discount rate4.4 %4.4 %
The following table presents information related to the Company's operating leases for the three months ended March 31, 2024 and 2023:
Three Months Ended
March 31, 2024March 31, 2023
Cash paid for operating lease liabilities$335 $284 
Operating lease expense356 309 
The following table presents expected future maturities of the Company's lease liabilities as of March 31, 2024:
2024$1,014 
20251,371 
20261,403 
20271,437 
20281,194 
Thereafter10,187 
16,606 
Less: imputed interest5,203 
Total lease liabilities$11,403