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v3.25.2

Leases (Tables) | 6 Months Ended
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Jun. 30, 2025
Leases [Abstract] |
Lease Portfolio and Other Supplemental Lease Information | The following tables summarize information related to the Company’s lease portfolio and other supplemental lease information as of and for the periods ended:
|  | June 30, 2025 |  |  | December 31, 2024 |
|  | Operating |  |  | Finance |  |  | Operating |  |  | Finance |
(Dollars in thousands) |  |  |  |  |  |  |  |  |
ROU assets |  | $ | 5,501 |  |  | $ | — |  |  | $ | 5,648 |  |  | $ | — |
Lease liabilities |  |  | 5,501 |  |  |  | 1,481 |  |  |  | 5,648 |  |  |  | 1,509 |
Lease Term and Discount Rate: |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average remaining lease term (years) |  |  | 13.25 |  |  |  | 13.92 |  |  |  | 13.68 |  |  |  | 14.42 |
Weighted-average discount rate(1) |  |  | 7.75 | % |  |  | 8.12 | % |  |  | 7.82 | % |  |  | 8.12 | %
(1) A lease implicit rate or incremental borrowing rate is used based on information available at commencement date of lease. |  |  |  |  |  |  |  |  |  |  |  |
Schedule of Total Minimum Lease Payments Due In Future Periods For Lease Agreements |
|  | Three months ended June 30, |
(Dollars in thousands) |  | 2025 |  |  | 2024 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 74 |  |  | $ | 36 |
Principal payments on finance lease |  |  | 14 |  |  |  | 3 |
Financing cash flows from finance lease |  |  | — |  |  |  | 1,539 |
ROU assets obtained in exchange for lease obligations: |  |  |  |  |  |
Operating leases |  | $ | — |  |  | $ | 5,263 |
Net operating lease cost |  | $ | 74 |  |  | $ | 36 |
Finance lease cost: |  |  |  |  |  |
Amortization of right-of-use assets |  |  | 14 |  |  |  | 3 |
Interest on lease liabilities |  |  | 24 |  |  |  | 6 |
Total lease cost |  | $ | 112 |  |  | $ | 45 |
|  | Six months ended June 30, |
(Dollars in thousands) |  | 2025 |  |  | 2024 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 146 |  |  | $ | 61 |
Principal payments on finance lease |  |  | 28 |  |  |  | 3 |
Financing cash flows from finance lease |  |  | — |  |  |  | 1,539 |
ROU assets obtained in exchange for lease obligations: |  |  |  |  |  |
Operating leases |  | $ | — |  |  | $ | 5,263 |
Net operating lease cost |  | $ | 146 |  |  | $ | 61 |
Finance lease cost: |  |  |  |  |  |
Amortization of right-of-use assets |  |  | 28 |  |  |  | 3 |
Interest on lease liabilities |  |  | 49 |  |  |  | 6 |
Total lease cost |  | $ | 223 |  |  | $ | 70 |
The total minimum lease payments due in future periods for lease agreements in effect at June 30, 2025 were as follows:
As of June 30, 2025 |  | Future Minimum Lease Payments |
(Dollars in thousands) |  | Operating |  |  | Finance |
Remainder of 2025 |  | $ | 330 |  |  | $ | 79 |
2026 |  |  | 666 |  |  |  | 160 |
2027 |  |  | 666 |  |  |  | 164 |
2028 |  |  | 651 |  |  |  | 168 |
2029 |  |  | 665 |  |  |  | 172 |
2030 |  |  | 648 |  |  |  | 176 |
Thereafter |  |  | 5,724 |  |  |  | 1,673 |
Total minimum lease payments |  |  | 9,350 |  |  |  | 2,592 |
Less: interest |  |  | (3,849 | ) |  |  | (1,111 | )
Total lease liability |  | $ | 5,501 |  |  | $ | 1,481 |

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