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Leases (Tables)

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Summary of Company's Leases

The following tables present information about the Company’s leases as of the dates and for the periods stated.

(Dollars in thousands)		March 31, 2024				December 31, 2023
Lease liabilities		$	8,870			$	9,619
Right-of-use asset		$	8,067			$	8,738
Weighted average remaining lease term (years)			7.09				7.14
Weighted average discount rate			3.33	%			3.25	%

Summary of Lease Liabilities are Included within Other Liabilities

		For the three months ended March 31,
(Dollars in thousands)		2024				2023
Operating lease cost		$	486			$	715
Total lease cost			486				715
Cash paid for amounts included in the measurement of lease liabilities			456				599

Summary of Operating Lease Liabilities

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, 2024
Nine months ending December 31, 2024		$	1,374
Twelve months ending December 31, 2025			1,544
Twelve months ending December 31, 2026			1,449
Twelve months ending December 31, 2027			1,304
Twelve months ending December 31, 2028			1,101
Thereafter			3,288
Total undiscounted cash flows			10,060
Discount			(1,190	)
Lease liabilities		$	8,870

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.

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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

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-Section 50
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- Definition

Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

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