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Leases
 6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Leases

Note 9—Leases

 

The Company has operating leases on four 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)  June 30,
2022		   December 31,
2021		 
Right-of-use assets  $2,972   $2,842 
Lease liabilities  $3,096   $2,950 
Weighted average remaining lease term   14.01 years    15.08 years 
Weighted average discount rate   4.35%   4.42%

 

   Three Months Ended June 30,   Six Months Ended June 30, 
Lease cost (dollars in thousands)  2022   2021   2022   2021 
                 
Operating lease cost  $87.3   $80.8   $168.0   $161.5 
Cash paid for amounts included in the measurement of lease liabilities  $75.5   $74.1   $150.7   $148.0 

 

The following table shows future undiscounted lease payments for operating leases with initial terms of one year or more as of June 30, 2022, are as follow:

 

(Dollars in thousands)          Liability 
Year  Cash   Lease Expense   Reduction 
2022  $176   $66   $110 
2023   357    124    233 
2024   333    115    218 
2025   275    107    168 
2026   281    100    181 
Thereafter   2,774    588    2186 
Total  $4,196   $1,100   $3,096