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Leases (Tables)
3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Schedule of Operating Lease Costs and Additional Information

The following table presents the operating lease costs and additional information for the three months ended March 31, 2024 and 2023.

 

 

Three Months Ended March 31,

 

(Dollars in thousands)

 

2024

 

 

2023

 

Operating lease costs

 

$

604

 

 

$

597

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

 

 

 

Operating cash flows from operating leases

 

 

657

 

 

 

623

 

Right-of-use asset obtained in exchange for lease liability

 

 

(59

)

 

 

(56

)

Schedule of Breakout of Operating Leases

The following table presents the breakout of the operating leases as of March 31, 2024 and December 31, 2023.

(Dollars in thousands)

 

March 31, 2024

 

 

December 31, 2023

 

Operating lease right-of-use assets

 

$

8,327

 

 

$

8,785

 

Other current liabilities

 

 

2,255

 

 

 

2,472

 

Operating lease liabilities

 

 

6,710

 

 

 

7,019

 

Total operating lease liabilities

 

 

8,965

 

 

 

9,491

 

Weighted average remaining lease term

 

4.4 years

 

 

4.9 years

 

Weighted average discount rate

 

 

5.56

%

 

 

5.47

%

Schedule of Maturities of the Lease Liabilities

At March 31, 2024, maturities of the lease liabilities were as follows:

(Dollars in thousands)

 

 

 

Remainder of 2024

 

$

1,903

 

2025

 

 

2,546

 

2026

 

 

2,567

 

2027

 

 

1,342

 

2028

 

 

573

 

Thereafter

 

 

1,139

 

Total lease payments

 

 

10,070

 

Less imputed interest

 

 

1,105

 

Total operating lease liabilities

 

$

8,965