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Lease Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Schedule of the right of use asset (net of accumulated amortization), lease liability and other information related to the Company's operating leases

The table below details the right of use asset (net of accumulated amortization), lease liability and other information related to the Company's operating leases:

 

 

Consolidated Balance

 

 

 

 

 

 

(dollars in thousands)

 

Sheet Classification

 

June 30, 2025

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

Operating lease right of use asset

 

Other assets

 

$

820

 

 

$

926

 

Operating lease liabilities

 

Other liabilities

 

$

862

 

 

$

967

 

 

 

 

 

 

 

 

 

 

Other information related to leases:

 

 

 

 

 

 

 

 

Weighted average remaining lease term of operating leases

 

 

 

4.5 years

 

 

4.7 years

 

Weighted average discount rate of operating leases

 

 

 

 

4.48

%

 

 

4.40

%

 

 

 

 

 

 

 

 

 

Schedule of Company's lease cost

The table below details the Company's lease cost, which is included in occupancy expense in the Consolidated Statements of Income.

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(dollars in thousands)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease cost

 

$

74

 

 

$

75

 

 

$

145

 

 

$

147

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash paid for lease liability

 

$

59

 

 

$

57

 

 

$

118

 

 

$

114

 

Schedule of maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability

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

 

(dollars in thousands)

 

As of June 30, 2025

 

Lease payments due:

 

 

 

Within one year

 

$

255

 

After one but within two years

 

 

187

 

After two but within three years

 

 

90

 

After three but within four years

 

 

75

 

After four but within five years

 

 

74

 

After five years

 

 

230

 

Total undiscounted lease payments

 

 

911

 

Less: imputed interest

 

 

49

 

Present value of operating lease liabilities

 

$

862