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Office Properties and Equipment (Tables) | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Summary of Office Properties and Equipment | Office properties and equipment consisted of the following at December 31 of the years indicated.
(dollars in thousands) |  | 2023 |  | 2022
Land |  | $ | 13,709 |  |  | $ | 13,709 |
Buildings and improvements |  | 38,599 |  |  | 37,732 |
Furniture and equipment |  | 18,850 |  |  | 18,189 |
Total office properties and equipment |  | 71,158 |  |  | 69,630 |
Less accumulated depreciation |  | 29,178 |  |  | 26,070 |
Total office properties and equipment, net |  | $ | 41,980 |  |  | $ | 43,560 |
Summary of Net Lease Cost and Selected Other Information | The following table summarizes net lease cost and selected other information related to operating leases at December 31 of the years indicated.
(dollars in thousands) |  | 2023 |  | 2022 |  | 2021
Net lease cost: |  |  |  |  |  |
Operating lease cost |  | $ | 1,442 |  |  | $ | 1,197 |  |  | $ | 513 |
Variable lease cost |  | — |  |  | — |  |  | — |
Net lease cost |  | $ | 1,442 |  |  | $ | 1,197 |  |  | $ | 513 |
Selected other operating lease information |  |  |  |  |  |
Weighted average remaining lease term (years) |  | 7.0 |  | 6.7 |  | 9.3
Weighted average discount rate |  | 5.7% |  | 5.7% |  | 5.9%
Summary of Maturity of Remaining Lease Liabilities | The following table summarizes the maturity of remaining lease liabilities.
Years Ending December 31, | (dollars in thousands)
2024 | $ | 1,540 |
2025 | 1,227 |
2026 | 1,241 |
2027 | 1,256 |
2028 | 1,170 |
Thereafter | 11,313 |
Total future minimum lease payments | 17,747 |
Less: amount representing interest | (6,327) |
Present value of net future minimum lease payments | $ | 11,420 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1 + Details
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