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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Assets And Liabilities, Lessee

The following tables present information about the Company’s leases:

 

(dollars in thousands)

 

December 31, 2024

 

 

December 31, 2023

 

Lease liability

 

$

9,779

 

 

$

4,653

 

Right-of-use asset

 

$

9,465

 

 

$

4,387

 

Weighted average remaining lease term

 

12 years

 

 

14 years

 

Weighted average discount term

 

 

4.16

 %

 

 

3.09

 %

 

 

 

Twelve Months Ended

 

Lease Cost

 

December 31, 2024

 

 

December 31, 2023

 

Operating lease cost

 

$

528

 

 

$

528

 

Variable lease cost

 

 

 

 

 

 

Short-term lease cost

 

 

14

 

 

 

14

 

Total lease cost

 

$

542

 

 

$

542

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities

 

$

480

 

 

$

473

 

Lessee, Operating Lease, Liability, Maturity

A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liabilities is as follows:

 

 

 

As of

 

Lease payments due

 

December 31, 2024

 

Twelve months ending December 31, 2025

 

$

1,025

 

Twelve months ending December 31, 2026

 

 

932

 

Twelve months ending December 31, 2027

 

 

943

 

Twelve months ending December 31, 2028

 

 

964

 

Twelve months ending December 31, 2029

 

 

986

 

Thereafter

 

 

7,973

 

Total undiscounted cash flows

 

$

12,823

 

Discount

 

 

(3,044

)

Lease liability

 

$

9,779