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Office Properties and Equipment (Tables)

12 Months Ended

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

X

- 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

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X

- 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

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- References

No definition available.

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X

- 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

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