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v3.25.2

PREMISES, EQUIPMENT AND LEASES (Tables) | 3 Months Ended
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Mar. 31, 2025
Property, Plant and Equipment [Abstract] |
Summary of Premises and Equipment | A summary of premises, equipment and leases at March 31, 2025 and December 31, 2024 is as follows:
| March 31, |  | December 31,
(dollars in thousands) | 2025 |  | 2024
Land | $ | 15,986 |  |  | $ | 15,986 |
Buildings and improvements | 84,685 |  |  | 83,296 |
Furniture and equipment | 36,966 |  |  | 36,526 |
Lease right-of-use assets | 9,246 |  |  | 8,830 |
Total | 146,883 |  |  | 144,638 |
Accumulated depreciation | (60,164) |  |  | (58,928) |
Premises and equipment, net | $ | 86,719 |  |  | $ | 85,710 |
Summary of Information Related to Operating Leases | Information related to operating leases for the three months ended March 31, 2025 and 2024 was as follows:
| Three Months Ended March 31, |  |
(dollars in thousands) | 2025 |  | 2024 |  |  |  |
Operating lease cost | $ | 498 |  |  | $ | 476 |  |  |  |  |
Operating cash flows from leases | 518 |  |  | 572 |  |  |  |  |
Right-of-use assets obtained in exchange for lease obligations | 837 |  |  | 222 |  |  |  |  |
Weighted average remaining lease term | 6.7 years |  | 7.6 years |  |  |  |
Weighted average discount rate | 3.72 | % |  | 3.44 | % |  |  |  |
Summary of Projected Minimum Rental Payments | The projected minimum rental payments under the terms of the leases as of March 31, 2025 were as follows:
(dollars in thousands) | Amount
Year ending December 31: |
2025 remaining | $ | 1,310 |
2026 | 2,003 |
2027 | 1,892 |
2028 | 1,840 |
2029 | 1,640 |
Thereafter | 3,254 |
Total future minimum lease payments | 11,939 |
Less imputed interest | (1,420) |
Total operating lease liabilities | $ | 10,519 |
The future lease payments receivable from operating leases as of March 31, 2025 are as follows:
(dollars in thousands) | Amount
Year ending December 31: |
2025 remaining | $ | 7,873 |
2026 | 3,471 |
2027 | 2,354 |
2028 | 1,245 |
2029 | 698 |
Thereafter | 48 |
Total future minimum lease payments | $ | 15,689 |

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- 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 + Details
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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 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 + Details
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- 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 + Details
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