XML 66 R43.htm IDEA: XBRL DOCUMENT v3.25.1
Leases (Tables)
12 Months Ended
Dec. 31, 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):

    

Balance Sheet

    

December 31, 

December 31, 

Location

2024

2023

Assets:

 

  

 

  

  

Operating lease right-of-use assets

 

Other assets

$

11,951

$

9,894

Liabilities:

 

  

 

 

  

Operating lease liabilities

 

Other liabilities

$

12,472

$

10,303

Summary of Lease Costs and Other Information

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. The following table represents lease costs and other lease information for the years ended December 31, (in thousands):

Year Ended

December 31, 

2024

2023

2022

Lease costs:

  

  

  

Operating lease costs

$

1,919

$

1,687

$

1,633

Variable lease costs

 

88

 

117

 

100

Sublease income

(24)

Net lease cost

$

1,983

$

1,804

$

1,733

Other information:

 

  

 

  

 

  

Cash paid for amounts included in the measurement of lease liabilities:

 

  

 

  

 

  

Operating cash flows from operating leases

$

1,810

$

1,421

$

1,562

Schedule of Remaining Minimum Lease Payments

Future minimum payments for operating leases with initial or remaining terms of one year or more as of December 31, 2024 were as follows (in thousands):

    

Amounts

2025

    

$

1,725

2026

 

1,675

2027

 

1,469

2028

 

1,464

2029

 

1,398

Thereafter

 

7,650

Total future minimum lease payments

 

15,381

Amounts representing interest

 

(2,909)

Present value of net future minimum lease payments

$

12,472