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Leases (Tables)

12 Months Ended

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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Lessee lease terms and discount rate operating.

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Operating Lease Assets And Liabilities.

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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

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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

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