XML 52 R38.htm IDEA: XBRL DOCUMENT

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Operating Lease Costs and Cash Flows

The below tables provide information on the Bank’s operating leases:


		(In Thousands)
		December 31, 2023				December 31, 2022				December 31, 2021
Operating lease cost (1)		$	540			$	244			$	197
Operating cash flows (2)		$	45			$	26			$	15

(1) Included in net occupancy expense on Company's consolidated statement of income
(2) Included in customer service fees on Company's consolidated statement of income

Operating Lease Assets and Liabilities


		(In Thousands)
		December 31, 2023				December 31, 2022
Operating lease assets (1)		$	5,918			$	1,033
Operating lease liabilities (2)		$	5,918			$	1,033

(1) Included in other assets on Company's consolidated balance sheets
(2) Included in accrued interest and other liabilities on Company's consolidated balance sheets

Operating Lease Term and Discount Rates of Lessee Arrangements

Operating lease term and discount rates of our lessee arrangements at December 31, 2023 and 2022 were as follows:


		December 31, 2023				December 31, 2022
Weighted average remaining lease term (years)			9.78				11.99
Weighted average discount rate			4.34	%			2.54	%

Summary of Future Lease Payments Based on Maturity for Lessee Liability Arrangements

The future lease payments based on maturity for our lessee liability arrangements at December 31, 2023 are as follows:


		(In Thousands)
2024		$	872
2025			848
2026			814
2027			771
2028			693
2029 and thereafter			3,212
Total future lease payments		$	7,210
Less: interest			1,292
Present value of operating lease liability arrangements		$	5,918