Leases (Tables)

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Information about leases

The following tables present information about the Company’s leases.

(Dollars in thousands)	March 31, 2024			December 31, 2023
Lease liabilities	$	12,552		$	12,857
Right-of-use assets	$	12,153		$	12,487
Weighted average remaining lease term	10.72 years			10.88 years
Weighted average discount rate	3.24		%	3.24		%
Remaining lease term - min	0.14 years			0.39 years
Remaining lease term - max	17.43 years			17.68 years

	Three Months Ended March 31,
Lease cost (in thousands)	2024		2023
Operating lease cost	$	492	$	340
Total lease cost	$	492	$	340
Cash paid for amounts included in the measurement of lease liabilities	$	462	$	322

Operating lease liabilities

A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total of operating lease liabilities is as follows:

Lease payments due (in thousands)	As of March 31, 2024
Nine months ending December 31, 2024	$	1,347
2025	1,642
2026	1,600
2027	1,472
2028	1,419
Thereafter	7,261
Total undiscounted cash flows	$	14,741
Discount	2,189
Lease liabilities	$	12,552

Minimum future annual rental income

The following table presents our minimum future annual rental income on such leases as of March 31, 2024.

(In thousands)	As of March 31, 2024
Nine months ending December 31, 2024	$	635
2025	854
2026	876
2027	562
2028	578
Thereafter	2,438
Total	$	5,943