v3.24.1.u1

Operating Leases | 3 Months Ended
--- | ---
Mar. 31, 2024
Leases [Abstract] |
Operating Leases | Operating Leases The following table presents operating lease cost and supplemental cash flow information related to leases for the periods indicated:
|  | Three Months Ended March 31, |  |
($ in thousands) |  | 2024 |  | 2023 |  |  |  |
Operating lease cost (1) |  | $ | 943 |  |  | $ | 743 |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 875 |  |  | $ | 810 |  |  |  |  |
Right of use assets obtained in exchange for lease obligations |  | $ | — |  |  | $ | 195 |  |  |  |  |
(1) Included in Occupancy and Equipment on the Consolidated Statements of Income (Unaudited). The Company used the incremental borrowing rate based on the information available at lease commencement in determining the present value of lease payments. The following table presents supplemental balance sheet information related to leases as of the dates indicated:
($ in thousands) |  | March 31, 2024 |  | December 31, 2023
Operating leases: |  |  |  |
Operating lease assets |  | $ | 18,255 |  |  | $ | 18,913 |
Operating lease liabilities |  | $ | 19,555 |  |  | $ | 20,137 |
Weighted-average remaining lease term |  | 8.1 years |  | 8.3 years
Weighted-average discount rate |  | 4.66 | % |  | 4.63 | %
The following table presents maturities of operating lease liabilities as of the date indicated:
($ in thousands) |  | March 31, 2024
Maturities: |  |
2024 |  | $ | 2,564 |
2025 |  | 3,301 |
2026 |  | 2,932 |
2027 |  | 2,543 |
2028 |  | 2,416 |
After 2028 |  | 10,695 |
Total lease payment |  | 24,451 |
Imputed Interest |  | (4,896) |
Present value of operating lease liabilities |  | $ | 19,555 |

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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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