INDEBTEDNESS (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt

The amounts borrowed as of September 30, 2022 and December 31, 2021 are as follows (dollars in thousands):

	September 30, 2022			December 31, 2021
Amounts borrowed:
Revolving credit facility	$	30,000		$	23,000
Less: deferred financing costs, net of accumulated amortization of $467 as of December 31, 20211	—			(270)
Long-term debt, net	$	30,000		$	22,730
Available to be borrowed under revolving facility, subject to certain limitations	$	70,000		$	67,000
Interest rates:
SOFR/LIBOR rate loans:
Interest margin	2.25		%	1.75		%
Actual interest rates	5.40		%	1.88		%
Commitment fee	0.40		%	0.30		%
'(1) In connection with the new Credit Agreement entered into during the three months ended June 30, 2022, the Company recorded deferred financing costs of $0.7 million to other assets on the condensed consolidated balance sheets. Accumulated amortization as of September 30, 2022 was less than $0.1 million.