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Leases

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Leases

Note 9 - Leases

The Company has operating leases on three of its facilities at March 31, 2025 and December 31, 2024. All leases commenced prior to 2024. The three leases have maturities ranging from May 2027 to December 2038, some of which include extensions of multiple two-year terms. The following tables present information about the Company’s leases:

Schedule of Lease Information

(Dollars in thousands)		March 31, 2025				December 31, 2024
Right-of-use assets		$	2,406			$	2,477
Lease liabilities		$	2,579			$	2,646
Weighted average remaining lease term			11.08 years				11.21 years
Weighted average discount rate			4.22	%			4.21	%

		Three Months Ended March 31,
(Dollars in thousands)		2025				2024
Operating lease cost		$	97.4			$	112.1
Cash paid for amounts included in the measurement of lease liabilities		$	93.9			$	105.2

The following table shows future undiscounted lease payments for operating leases with initial terms of one year or more as of March 31, 2025.

Schedule of Future Undiscounted Operating Lease Payments

(Dollars in thousands)
Year		Operating Leases
2025		$	283
2026			386
2027			363
2028			303
2029			178
Thereafter			1,768
Total undiscounted lease payments		$	3,281
Less effect of discounting			(702	)
Present value of estimated lease payments (lease liability)		$	2,579

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- References

No definition available.

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- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 840
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/840/tableOfContent

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