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Lease Liabilities (Tables)
9 Months Ended
Sep. 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):
Three Months Ended December 31, 2023$279 
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
Total6,942
Less present value discount(397)
Operating lease liabilities$6,545 
Information Regarding Lease Assets and Liabilities The tables below present information regarding the Company’s lease assets and liabilities.
Nine Months Ended September 30,
20232022
 
Weighted-average remaining lease term – operating leases (in years)6.07.0
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
September 30,
For the Nine Months Ended
September 30,
2023202220232022
($ in thousands)
Operating cash flows from operating leases$279 $178 $571 $234 
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
September 30,
For the Nine Months Ended
September 30,
2023202220232022
(in thousands)  
Operating leases  
Operating lease cost$219 $278 $657 $791 
Variable lease cost26 12 
Operating lease expense227 282 683 803 
Short-term lease rent expense— — 38 
Net rent expense$227 $291 $683 $841