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Leases (Tables)
3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Components of Lease expense

The components of total lease expense were as follows:

 

 

For the Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

 

 

(In Thousands)

 

Operating lease cost

 

$

344

 

 

$

357

 

Short-term lease cost

 

 

54

 

 

 

37

 

Variable lease cost

 

 

141

 

 

 

141

 

Total lease cost, net

 

$

539

 

 

$

535

 

Operating Lease Quantitative Information

Quantitative information regarding the Corporation’s operating leases was as follows:

 

 

March 31, 2025

 

 

December 31, 2024

 

Weighted-average remaining lease term (in years)

 

 

6.76

 

 

 

6.93

 

Weighted-average discount rate

 

 

3.42

%

 

 

3.37

%

Maturity of Operating Lease Liabilities

The following maturity analysis shows the undiscounted cash flows due on the Corporation’s operating lease liabilities:

(In Thousands)

 

 

 

2025

 

$

1,090

 

2026

 

 

1,448

 

2027

 

 

1,469

 

2028

 

 

1,113

 

2029

 

 

792

 

Thereafter

 

 

2,808

 

Total undiscounted cash flows

 

 

8,720

 

Discount on cash flows

 

 

(1,116

)

Total lease liability

 

$

7,604