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Leases (Tables)

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Summary of Lease Assets and Liabilities

The following table represents the consolidated balance sheet classification of the Company’s ROU assets and lease liabilities. The Company elected not to include short-term leases (i.e., leases with initial terms of twelve months or less), or equipment leases (deemed immaterial) on the consolidated balance sheet (in thousands):


				September 30,			December 31,
		Classification		2024			2023
Assets:
Operating lease right-of-use assets		Other assets		$	11,741		$	9,894
Liabilities:
Operating lease liabilities		Other liabilities		$	12,240		$	10,303

Summary of Lease Costs and Other Information

The following table represents lease costs and other lease information. As the Company elected, for all classes of underlying assets, not to separate lease and non-lease components and instead to account for them as a single lease component, the variable lease cost primarily represents variable payments such as common area maintenance (in thousands):


		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2024			2023			2024			2023
Lease costs:
Operating lease costs		$	492		$	438		$	1,411		$	1,247
Variable lease costs			16			30			72			87
Total		$	508		$	468		$	1,483		$	1,334
Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	462		$	393		$	1,322		$	1,142

Schedule of Remaining Minimum Lease Payments

Future minimum payments for operating leases with initial or remaining terms of one year or more as of September 30, 2024, were as follows (in thousands):


		Amounts
Remainder of 2024		$	452
2025			1,714
2026			1,599
2027			1,392
2028			1,388
Thereafter			8,562
Total future minimum lease payments			15,107
Amounts representing interest			(2,867)
Present value of net future minimum lease payments		$	12,240