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Leases
 3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Leases

Note 9—Leases

 

The Company has operating leases on three of its facilities. The leases have maturities ranging from September 2024 to December 2038, some of which include extensions of multiple five-year terms. The following tables present information about the Company’s leases:

 

(dollars in thousands)  March 31,
2022		   December 31,
2021		 
Right-of-use assets  $2,793   $2,842 
Lease liabilities  $2,906   $2,950 
Weighted average remaining lease term   14.92 years    15.08 years 
Weighted average discount rate   4.42%   4.42%

 

               
  Three Months Ended March 31, 
Lease cost (in thousands)  2022   2021 
Operating lease cost  $80.8   $80.8 
Cash paid for amounts included in the measurement of lease liabilities  $75.3   $73.9 

 

The following table shows future undiscounted lease payments for operating leases with initial terms of one year or more as of March 31, 2022, are as follow:

(Dollars in thousands)                 Liability
Year     Cash     Lease Expense     Reduction
2022     $ 228     $ 94     $134
2023       309       118     191
2024       282       110     172
2025       222       104     118
2026       226       99     127
Thereafter       2,751       587     2164
Total     $ 4,018     $ 1,112     $2,906