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Lease Liabilities (Tables)
6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Future Minimum Annual Undiscounted Rental Payments for Operating Leases Future minimum annual undiscounted rental payments for these operating leases are as follows ($ in thousands):
Six Months Ended December 31, 2023$558 
Year Ended December 31, 20241,104
Year Ended December 31, 20251,086
Year Ended December 31, 20261,118
Year Ended December 31, 20271,152
Thereafter2,203
Total7,221
Less present value discount(429)
Operating lease liabilities$6,792 
Information Regarding Lease Assets and Liabilities The tables below present information regarding the Company’s lease assets and liabilities.
Six Months Ended
June 30, 2023June 30, 2022
 
Weighted-average remaining lease term – operating leases (in years)6.37.2
Weighted-average discount rate – operating leases1.9 %1.9 %
Supplemental Cash Flow Information and Components of Lease Expense
Supplemental cash flow information related to leases were as follows (in thousands):
For the Three Months Ended
June 30,
For the Six Months Ended
June 30,
2023202220232022
($ in thousands)
Operating cash flows from operating leases$21 $28 $292 $56 
Right-of-use assets obtained in exchange for operating lease liabilities— — — 7,380 
The components of lease expense were as follows (in thousands):
For the Three Months Ended
June 30,
For the Six Months Ended
June 30,
2023202220232022
(in thousands)  
Operating leases  
Operating lease cost$219 $278 $438 $514 
Variable lease cost18 
Operating lease expense228 282 456 522 
Short-term lease rent expense— 28 — 28 
Net rent expense$228 $310 $456 $550