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v3.23.1

Leases | 3 Months Ended
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Mar. 31, 2023
Leases [Abstract] |
Leases | Note 9 – Leases The Company’s long-term lease agreements are classified as operating leases. Certain of these leases offer the option to extend the lease term and such extensions are included in the calculation of the lease liabilities to the extent the options are reasonably assured of being exercised. The lease agreements do not provide for residual value guarantees and have no restrictions or covenants that would impact dividends or require incurring additional financial obligations. The following tables present information about the Company’s leases as of the dates and for the periods stated.
(Dollars in thousands) |  | March 31, 2023 |  |  | December 31, 2022 |
Right-of-use assets |  | $ | 6,470 |  |  | $ | 6,903 |
Lease liabilities |  | $ | 7,398 |  |  | $ | 7,860 |
Weighted average remaining lease term (years) |  |  | 5.62 |  |  |  | 5.85 |
Weighted average discount rate |  |  | 2.42 | % |  |  | 2.40 | %
|  | For the three months ended March 31, |
(Dollars in thousands) |  | 2023 |  |  | 2022 |
Operating lease cost |  | $ | 715 |  |  | $ | 555 |
Total lease cost |  |  | 715 |  |  |  | 555 |
Cash paid for amounts included in the measurement of lease liabilities |  |  | 599 |  |  |  | 736 |
The following table presents a maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total of operating lease liabilities as of the date stated.
(Dollars in thousands) |  | March 31, 2023 |
Nine months ending December 31, 2023 |  | $ | 1,484 |
Twelve months ending December 31, 2024 |  |  | 1,464 |
Twelve months ending December 31, 2025 |  |  | 1,191 |
Twelve months ending December 31, 2026 |  |  | 1,073 |
Twelve months ending December 31, 2027 |  |  | 990 |
Thereafter |  |  | 1,786 |
Total undiscounted cash flows |  |  | 7,988 |
Discount |  |  | (590 | )
Lease liabilities |  | $ | 7,398 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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