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Lease Obligations | 6 Months Ended
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Jun. 30, 2023
Lease Obligations [Abstract] |
Lease Obligations | Note 13 – Lease Obligations The Company leases 25 of its offices under various operating lease agreements. The leases have remaining terms of one year to 10 years. The leases contain provisions for the payment by the Company of its pro-rata share of real estate taxes, insurance, common area maintenance and other variable expenses. The Company will allocate payments made under such leases between lease and non-lease components. Some leases contain renewal options and options to purchase the assets. The Company has elected not to recognize a lease liability and a right of use asset for leases with a lease term of 12 or fewer months. The following tables present certain information related to the Company’s leases (in thousands):
|  | Three Months Ended June 30, 2023 |  |  | Three Months Ended June 30, 2022 |  |  | Six Months Ended June 30, 2023 |  |  | Six Months Ended June 30, 2022
Operating lease expense | $ | 896 |  | $ | 938 |  | $ | 1,832 |  | $ | 1,840
Variable lease expense-operating leases | $ | 256 |  | $ | 257 |  | $ | 524 |  | $ | 476
|  | At June 30, 2023 |  |  | At December 31, 2022
Supplemental balance sheet information related to leases: |  |  |  |  |
Operating Leases |  |  |  |  |
Operating lease right-of-use assets | $ | 13,658 |  | $ | 13,520
Current liabilities | $ | 1,631 |  | $ | 3,062
Operating lease liabilities (noncurrent portion) |  | 13,797 |  |  | 12,218
Imputed interest |  | (1,425) |  |  | (1,421)
Total operating lease liabilities | $ | 14,003 |  | $ | 13,859
The weighted average remaining lease term for operating leases at June 30, 2023 and December 31, 2022 was 6.10 years and 6.49 years, respectively. The weighted average discount rate for operating leases at June 30, 2023 and December 31, 2022 was 2.94 percent and 2.83 percent, respectively. The following table summarizes the Company’s maturity of lease obligations for operating leases at June 30, 2023 and December 31, 2022 (in thousands):
Maturities of lease liabilities:
|  | At June 30, 2023 |  |  | At December 31, 2022
|  | Operating Leases |  |  | Operating Leases
One year or less | $ | 1,631 |  | $ | 3,062
Over one year through three years |  | 5,468 |  |  | 4,766
Over three years through five years |  | 4,341 |  |  | 3,496
Over five years |  | 3,988 |  |  | 3,956
Gross operating lease liabilities | $ | 15,428 |  | $ | 15,280
Imputed interest |  | (1,425) |  |  | (1,421)
Total operating lease liabilities | $ | 14,003 |  | $ | 13,859

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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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