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LEASES (Tables)
3 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Lease balance sheet location
The Company elected to not include short-term leases with initial terms of twelve months or less on the Condensed Consolidated Balance Sheets. The following presents the classification of the right-of-use assets and corresponding liabilities within the Condensed Consolidated Balance Sheets, as of the dates noted (dollars in thousands).
March 31,
2023
December 31,
2022
Lease Right-of-Use AssetsClassification
Operating lease right-of-use assetsOther assets$7,951 $8,602 
Lease LiabilitiesClassification
Operating lease liabilitiesOther liabilities$10,346 $11,163 
Schedule of weighted average lease term and discount rate
March 31,
2023
December 31,
2022
Weighted-Average Remaining Lease Term
Operating leases4.75 years4.85 years
Weighted-Average Discount Rate
Operating leases2.59 %2.63 %
Lease costs The following presents the Company’s net lease costs during the periods presented (dollars in thousands):
Three Months Ended March 31,
20232022
Lease Costs
Operating lease cost$744 $795 
Variable lease cost493 558 
Lease costs, net$1,237 $1,353 
Schedule of minimum lease payments due
The following presents a maturity analysis of the Company’s operating lease liabilities on an annual basis for each of the next five years and total amounts thereafter (dollars in thousands):
Year Ending December 31,Operating Leases
2023⁽¹⁾$2,344 
20243,083 
20252,141 
2026809 
2027734 
Thereafter1,752 
Total future minimum lease payments10,863 
Less: imputed interest(517)
Present value of net future minimum lease payments$10,346 
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(1)Amount represents the remaining nine months of year.
Summary of maturity analysis of the Company's operating payments to be received
Year Ending December 31,Undiscounted
Operating Lease Income
2023⁽¹⁾$235 
2024233 
2025
2026— 
2027— 
Thereafter— 
Total undiscounted operating lease income$471 
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(1)Amount represents the remaining nine months of the year.