The Company is a party to various claims and lawsuits incidental to its business. In the Company’s opinion, the liabilities, if any, which may ultimately result from the outcome of such matters, individually or in the aggregate, are not expected to have a material adverse effect on its financial position, liquidity, results of operations or cash flows.

The Company has commitments under operating leases for real estate leased from third parties under non-cancelable operating leases. The Company’s leases typically have lease terms between three years and ten years, with the longest lease term having an expiration date in 2029. Most of these leases include one or more renewal options for six years or less, and certain leases also include lessee termination options. At lease commencement, the Company assesses whether it is reasonably certain to exercise a renewal option, or reasonably certain not to exercise a termination option, by considering various economic factors. Options that are reasonably certain of being exercised are factored into the determination of the lease term, and related payments are included in the calculation of the right-of-use (“ROU”) asset and lease liability.

The components of lease cost are presented in the following table:


	Three Months Ended March 31,
($ in thousands)	2023		2022
Components of total lease costs:
Operating lease cost	$	659	$	690
Short-term lease cost		5		12
Variable lease cost		—		—
Total lease cost	$	664	$	702

Amounts reported in the Condensed Consolidated Balance Sheets were as follows:


($ in thousands)	March 31, 2023			December 31, 2022
Operating leases:
ROU assets	$	9,302		$	9,847
Lease liability, current		2,264			2,263
Lease liability, long-term		7,737			8,295
Total lease liabilities	$	10,001		$	10,558

Weighted-average remaining lease term (in years)		3.7		4.7
Weighted-average discount rate (annualized)		4.5	%		4.5	%

Other information related to leases are as follows:


	Three Months Ended March 31,
($ in thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	675	$	645
ROU assets obtained in exchange for lease liabilities:
Operating leases		—		1,532

The following table presents a maturity analysis of the Company’s operating leases liabilities as of March 31, 2023:


($ in thousands)
2023	$	2,011
2024		2,499
2025		2,328
2026		2,232
2027		1,410
Thereafter		561
Total undiscounted lease payments		11,041
Less: Imputed interest		1,040
Total lease liabilities	$	10,001