Leases (Tables)

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Summary of Lease Assets and Liabilities

The following table represents the consolidated balance sheet classification of the Company’s ROU assets and lease liabilities. The Company elected not to include short-term leases (i.e., leases with initial terms of twelve months or less), or equipment leases (deemed immaterial) on the consolidated balance sheet (in thousands):

		March 31,		December 31,
	Classification	2024		2023
Assets:
Operating lease right-of-use assets	Other assets	$	9,681	$	9,894
Liabilities:
Operating lease liabilities	Other liabilities	$	10,119	$	10,303

Summary of Lease Costs and Other Information

The following table represents lease costs and other lease information. As the Company elected, for all classes of underlying assets, not to separate lease and non-lease components and instead to account for them as a single lease component, the variable lease cost primarily represents variable payments such as common area maintenance (in thousands).

	Three Months Ended
	March 31,
	2024		2023
Lease costs:
Operating lease costs	$	451	$	404
Variable lease costs		30		23
Total	$	481	$	427
Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	421	$	379

Schedule of Remaining Minimum Lease Payments

Future minimum payments for operating leases with initial or remaining terms of one year or more as of March 31, 2024, were as follows (in thousands):

	Amounts
Remainder of 2024	$	1,198
2025		1,407
2026		1,334
2027		1,149
2028		1,144
Thereafter		5,371
Total future minimum lease payments		11,603
Amounts representing interest		(1,484)
Present value of net future minimum lease payments	$	10,119