The Company has operating leases for branch office locations, vehicles and certain office equipment such as printers, copiers and faxes. The leases have remaining lease terms of up to 17.6 years, some of which include options to extend the lease for up to 15 years and some of which include options to terminate the lease in 7 months.

The right of use asset and lease liability were $8.5 million and $8.8 million as of September 30, 2022 and $6.4 million and $6.6 million at December 31, 2021.

Lease payments made for the three and nine month periods ended September 30, 2022, were $252 thousand and $706 thousand, while lease payments made for the three and nine month periods ended September 30, 2021, were $206 thousand and $610 thousand, respectively. Interest expense and amortization expense on finance leases for the three month period ended September 30, 2022, was $51 thousand and $202 thousand, and $127 thousand and $534 thousand for the nine month period ended September 30, 2022. Interest expense and amortization expense on finance leases for the three month period ended September 30, 2021, was $44 thousand and $124 thousand, and $116 thousand and $366 thousand for the nine month period ended September 30, 2021. The average remaining lease term for all leases was 6.83 years as of September 30, 2022 and the weighted-average discount rate was 2.81%.

Maturities of lease liabilities are as follows as of September 30, 2022:


2022 (3 months)	$	264
2023		1,060
2024		892
2025		851
2026		817
Thereafter		6,659
Total Payments		10,543
Less: Imputed Interest		(1,766	)
Total	$	8,777