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Note 14 - Leases | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] | NOTE 14 - LEASES We lease several of our operating facilities under various non-cancellable operating leases expiring at various dates through 2037. We are also responsible for common area maintenance, taxes, and insurance at the various branch locations. Future minimum rent payments on our leases were as follows at December 31, 2024:
For the year ended December 31,: |  |  | (dollars in thousands) |
2025 |  | $ | 5,349 |
2026 |  |  | 5,843 |
2027 |  |  | 5,747 |
2028 |  |  | 4,830 |
2029 |  |  | 2,663 |
Thereafter |  |  | 8,282 |
Total |  | $ | 32,714 |
Less amount of payment representing interest |  |  | (3,009 | )
Total present value of lease payments |  | $ | 29,705 |
The minimum rent payments shown above are given for the existing lease obligation and are not a forecast of future rental expense. Total rental expense, recognized on a straight-line basis, was $5.8 million, $5.7 million, and $5.4 million for the years ended December 31, 2024, 2023, and 2022. The Company received rental income of $612,000, $570,000, and $548,000 for the years ended December 31, 2024, 2023, and 2022. The following table presents the operating lease related assets and liabilities recorded on the consolidated balance sheets, and the weighted-average remaining lease terms and discount rates as of the dates indicated:
|  | December 31, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
Operating Leases |  | (dollars in thousands) |
ROU assets |  | $ | 28,048 |  |  | $ | 29,803 |
Lease liabilities |  |  | 29,705 |  |  |  | 31,191 |
Weighted-average remaining lease term (in years) |  |  | 6.65 |  |  |  | 7.63 |
Weighted-average discount rate |  |  | 2.83 | % |  |  | 1.72 | %

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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