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Leases (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Summary of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:


		September 30,				December 31,
		2023				2022
		(Dollars in thousands)
Operating lease ROU assets		$	32,110			$	33,423
Operating lease liabilities			33,459				34,532
Weighted-average remaining lease term-operating leases		12.8 years				13.5 years
Weighted average discount rate-operating leases			4.9	%			4.9	%

Summary of Lease Expense and Cash Flow Information Related to Leases

The components of lease expense and cash flow information related to leases were as follows:


				For the Three Months Ended								For the Nine Months Ended
				September 30,								September 30,
				2023				2022				2023				2022
				(Dollars in thousands)
Lease Cost
Operating lease cost		Occupancy and equipment		$	1,029			$	1,042			$	3,123			$	3,100
Operating lease cost		Other operating expenses			4				1				14				2
Short-term lease cost		Other operating expenses			5				—				15				6
Variable lease cost		Occupancy and equipment			32				35				94				122
Total lease cost				$	1,070			$	1,078			$	3,246			$	3,230

Summary of Minimum Annual Rental Payments under Terms of Leases

The Company’s minimum annual rental payments under the terms of the leases are as follows at September 30, 2023:


		Minimum Rental
Years ended December 31:		(in thousands)
Remainder of 2023		$	961
2024			3,866
2025			3,818
2026			3,668
2027			3,537
2028			3,594
Thereafter			25,474
Total Minimum payments required			44,918
Less: implied interest			11,459
Present value of lease liabilities		$	33,459