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Leases | 6 Months Ended
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Jun. 30, 2025
Leases [Abstract] |
Leases | Leases The Company evaluates all contracts at commencement to determine if a lease is present. In accordance with ASC Topic 842, leases are defined as either operating or finance leases. The Company’s lease contracts are all classified as operating leases and create operating right-of-use (“ROU”) assets and corresponding lease liabilities on the Consolidated Statements of Financial Condition. The leases are primarily ROU assets of land and building for branch and loan production locations. ROU assets are reported in Accrued Interest Receivable and Other Assets and the related lease liabilities in Accrued Interest Payable and Other Liabilities on the Consolidated Statements of Financial Condition. The following tables present the lease expense, ROU assets, weighted average term, discount rate and maturity analysis of lease liabilities for operating leases for the periods and dates indicated.
| Three Months Ended June 30, | Six Months Ended June 30,
| 2025 | 2024 | 2025 | 2024
(Dollars in thousands) |  |  |  |
Operating Lease Expense | $ | 123 |  | $ | 99 |  | $ | 240 |  | $ | 176 |
Variable Lease Expense | 12 |  | 8 |  | 24 |  | 16 |
Total Lease Expense | $ | 135 |  | $ | 107 |  | $ | 264 |  | $ | 192 |
| June 30, 2025 | December 31, 2024
(Dollars in thousands) |  |
Operating Leases: |  |
ROU Assets | $ | 2,648 |  | $ | 2,761 |
Weighted Average Lease Term in Years | 10.76 | 11.07
Weighted Average Discount Rate | 4.23 | % | 4.18 | %
| June 30, 2025
(Dollars in thousands) |
Maturity Analysis: |
Due in One Year | $ | 449 |
Due After One Year to Two Years | 403 |
Due After Two Years to Three Years | 395 |
Due After Three Years to Four Years | 335 |
Due After Four to Five Years | 265 |
Due After Five Years | 1,674 |
Total | $ | 3,521 |
Less: Present Value Discount | 798 |
Lease Liabilities | $ | 2,723 |
There were no new lease agreements which commenced during the three months ended June 30, 2025. During the three months ended June 30, 2024, the Bank completed the sale and leaseback of a branch office located in Rostraver, Pennsylvania, for a sales price of $1.1 million. As a result, the Bank recorded a pre-tax net gain of $274,000. Concurrently, the Bank entered into a lease agreement with the purchaser under which the Bank leased the property for an initial term of 20 years with specified renewal options. The lease agreement includes a 2.0% annual rent escalation during the initial term and renewal terms, if exercised. The Bank recorded an operating lease ROU asset and corresponding lease liability of $1.0 million. During the six months ended June 30, 2024, the Bank entered into a lease agreement under which the Bank leased retail property located in Uniontown, Pennsylvania. The lease agreement is for an initial term of five years with specific renewal options. The lease agreement includes a 2.5% annual rent escalation during the initial term and renewal terms, if exercised. The Bank recorded an operating lease ROU asset and corresponding lease liability of $410,000.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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