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Leases
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Lessee, Operating Leases Leases
The Corporation leases various office spaces and specialized lending production offices under non-cancellable operating leases which expire on various dates through 2033. The Corporation also leases office equipment. The Corporation recognizes a right-of-use asset and an operating lease liability for all leases, with the exception of short-term leases. Right-of-use assets represent the right to use an underlying asset for the lease term and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. Lease expense for operating leases and short-term leases is recognized on a straight-line basis over the lease term.
The components of total lease expense were as follows:
For the Three Months Ended March 31,
20242023
(In Thousands)
Operating lease cost
$357 $382 
Short-term lease cost
37 63 
Variable lease cost
141 150 
Less: sublease income
— (45)
Total lease cost, net
$535 $550 

Quantitative information regarding the Corporation’s operating leases was as follows:
March 31, 2024December 31, 2023
Weighted-average remaining lease term (in years)
7.557.70
Weighted-average discount rate
3.66 %3.61 %
The following maturity analysis shows the undiscounted cash flows due on the Corporation’s operating lease liabilities:
(In Thousands)
2024$1,139 
20251,408 
20261,400 
20271,427 
20281,113 
Thereafter3,600 
Total undiscounted cash flows10,087 
Discount on cash flows(1,423)
Total lease liability$8,664