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Leases (Tables)
9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Lease Portfolio and Other Supplemental Lease Information

 

 

September 30, 2025

 

 

December 31, 2024

 

 

 

Operating

 

 

Finance

 

 

Operating

 

 

Finance

 

 

 

(Dollars in thousands)

 

 

(Dollars in thousands)

 

ROU assets

 

$

5,426

 

 

$

 

 

$

5,648

 

 

$

 

Lease liabilities

 

 

5,426

 

 

 

1,467

 

 

 

5,648

 

 

 

1,509

 

Lease Term and Discount Rate:

 

 

 

 

 

 

 

 

 

 

 

 

   Weighted-average remaining lease term (years)

 

 

13.18

 

 

 

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

Components of Operating Lease Cost and Other Related Information

 

 

Three months ended September 30,

 

(Dollars in thousands)

 

2025

 

 

2024

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

   Operating cash flows from operating leases

 

$

75

 

 

$

70

 

   Operating cash flows from finance lease

 

 

15

 

 

 

13

 

Net operating lease cost

 

$

75

 

 

$

70

 

Finance lease cost:

 

 

 

 

 

 

   Amortization of right-of-use assets

 

 

15

 

 

 

13

 

   Interest on lease liabilities

 

 

25

 

 

 

25

 

Total lease cost

 

$

115

 

 

$

108

 

 

 

 

 

 

 

Nine months ended September 30,

 

(Dollars in thousands)

 

2025

 

 

2024

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

   Operating cash flows from operating leases

 

$

222

 

 

$

131

 

   Operating cash flows from finance lease

 

 

28

 

 

 

16

 

   Financing cash flows from finance lease

 

 

 

 

 

1,539

 

ROU assets obtained in exchange for lease obligations:

 

 

 

 

 

 

   Operating leases

 

$

 

 

$

5,263

 

Net operating lease cost

 

$

222

 

 

$

131

 

Finance lease cost:

 

 

 

 

 

 

   Amortization of right-of-use assets

 

 

28

 

 

 

16

 

   Interest on lease liabilities

 

 

74

 

 

 

31

 

Total lease cost

 

$

324

 

 

$

178

 

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 September 30, 2025 were as follows:

As of September 30, 2025

 

Future Minimum Lease Payments

 

 (Dollars in thousands)

 

Operating

 

 

Finance

 

2025

 

$

165

 

 

$

39

 

2026

 

 

666

 

 

 

160

 

2027

 

 

666

 

 

 

164

 

2028

 

 

651

 

 

 

168

 

2029

 

 

665

 

 

 

172

 

2030

 

 

648

 

 

 

176

 

Thereafter

 

 

5,724

 

 

 

1,674

 

Total minimum lease payments

 

 

9,185

 

 

 

2,553

 

Less: interest

 

 

(3,759

)

 

 

(1,086

)

Total lease liability

 

$

5,426

 

 

$

1,467