Leases

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Leases

LeasesThe Company leases land and premises for its branch banking-offices, administration facility, and ITMs. The initial terms of these leases expire at various dates through 2032. Under the provisions of most of these leases, the Company has the option to extend the leases beyond their original terms at rental rates adjusted to certain economic indices or market conditions. Lease terms may also include options for termination. As of June 30, 2023, the Company had 14 operating leases and no financing leases. At June 30, 2022, the Company had 13 operating leases and no financing leases.

The components of lease expense are as follows:

	Three Months Ended				Six Months Ended
(In thousands)	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Operating lease expense	$	178	$	184	$	356	$	368
Variable lease expense	—		—		—		—
Total	$	178	$	184	$	356	$	368

Supplemental information related to leases are as follows:

	Six Months Ended
(In thousands)	June 30, 2023			June 30, 2022
Operating cash flows from operating leases	$	356		$	368
Weighted-average remaining lease term in years for operating leases	4.29			4.73
Weighted-average discount rate for operating leases	5.11		%	5.13		%

Maturities of lease liabilities are as follows:

(In thousands)	June 30, 2023
2023	$	698
2024	486
2025	268
2026	132
2027	110
Thereafter	264
Total undiscounted cash flows	1,958
Less: present value discount	(199)
Present value of net future minimum lease payments	$	1,759