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Leases (Tables)
6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Summary of Right-of-Use Asset and Net Lease Liability

The following table summarizes information related to the Company’s right-of-use asset and net lease liability:

 

 

June 30, 2023

 

 

Operating Leases

 

 

Balance Sheet Location

 

 

(Dollars in thousands)

Right-of-use asset

 

$

179

 

 

Other Assets

Net lease liability

 

 

179

 

 

Other Liabilities

 

 

 

 

 

 

 

 

December 31, 2022

 

 

Operating Leases

 

 

Balance Sheet Location

 

 

(Dollars in thousands)

Right-of-use asset

 

$

202

 

 

Other Assets

Net lease liability

 

 

202

 

 

Other Liabilities

Components of Operating Lease Cost and Other Related Information

The components of operating lease cost and other related information are as follows:

 

 

 

The three months ended June 30,

 

(Dollars in thousands)

 

2023

 

 

2022

 

Operating lease cost

 

$

12

 

 

$

19

 

Short-term lease cost

 

 

 

 

 

 

Variable lease cost (cost excluded from lease payments)

 

 

 

 

 

 

Sublease income

 

 

 

 

 

 

   Total operating lease cost

 

 

12

 

 

 

19

 

Other Information:

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities - operating cash flows from operating leases

 

 

12

 

 

 

19

 

Operating lease - operating cash flows (liability reduction)

 

$

 

 

$

 

Weighted average lease term remaining (in years)

 

 

3.94

 

 

 

4.80

 

Weighted average discount rate

 

 

3.31

%

 

 

3.28

%

 

 

The six months ended June 30,

 

(Dollars in thousands)

 

2023

 

 

2022

 

Operating lease cost

 

$

23

 

 

$

31

 

Short-term lease cost

 

 

 

 

 

 

Variable lease cost (cost excluded from lease payments)

 

 

 

 

 

 

Sublease income

 

 

 

 

 

 

   Total operating lease cost

 

 

23

 

 

 

31

 

Other Information:

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities - operating cash flows from operating leases

 

 

23

 

 

 

31

 

Operating lease - operating cash flows (liability reduction)

 

$

 

 

$

 

Weighted average lease term remaining (in years)

 

 

3.94

 

 

 

4.80

 

Weighted average discount rate

 

 

3.31

%

 

 

3.28

%

Schedule of Total Minimum Lease Payments Due In Future Periods For Lease Agreements

The total minimum lease payments due in future periods for lease agreements in effect at June 30, 2023 were as follows:

 

As of June 30, 2023

 

Future Minimum Lease Payments

 

 

 

(Dollars in thousands)

 

Remainder of 2023

 

$

26

 

2024

 

 

49

 

2025

 

 

45

 

2026

 

 

43

 

2027

 

 

29

 

Total minimum lease payments

 

 

192

 

Less: interest

 

 

(13

)

Total lease liability

 

$

179