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Leases (Tables) | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Operating Lease Costs and Cash Flows | The below tables provide information on the Bank’s operating leases:
|  | (In Thousands) |
|  | December 31, 2024 |  |  | December 31, 2023 |  |  | December 31, 2022 |
Operating lease cost (1) |  | $ | 979 |  |  | $ | 540 |  |  | $ | 244 |
Operating cash flows (2) |  | $ | 42 |  |  | $ | 45 |  |  | $ | 26 |
(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, 2024 |  |  | December 31, 2023 |
Operating lease assets (1) |  | $ | 6,403 |  |  | $ | 5,918 |
Operating lease liabilities (2) |  | $ | 6,403 |  |  | $ | 5,918 |
(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, 2024 and 2023 were as follows:
|  | December 31, 2024 |  |  | December 31, 2023 |
Weighted average remaining lease term (years) |  |  | 11.07 |  |  |  | 9.78 |
Weighted average discount rate |  |  | 5.49 | % |  |  | 4.34 | %
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, 2024 are as follows:
|  | (In Thousands) |
2025 |  | $ | 987 |
2026 |  |  | 953 |
2027 |  |  | 911 |
2028 |  |  | 833 |
2029 |  |  | 774 |
2030 and thereafter |  |  | 3,291 |
Total future lease payments |  | $ | 7,749 |
Less: interest |  |  | 1,346 |
Present value of operating lease liability arrangements |  | $ | 6,403 |

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- Definition Operating Lease Assets And Liabilities. + References No definition available. + Details
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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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