Operating Leases

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Operating Leases

Operating Leases

The following table presents operating lease cost and supplemental cash flow information related to leases for the periods indicated:

	Three Months Ended September 30,				Nine Months Ended September 30,
($ in thousands)	2022		2021		2022		2021
Operating lease cost (1)	$	705	$	611	$	2,029	$	1,913
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	755	$	654	$	2,182	$	2,051
Right of use assets obtained in exchange for lease obligations	$	1,043	$	1,111	$	2,007	$	1,247

(1)    Included in Occupancy and Equipment on the Consolidated Statements of Income (Unaudited).

The Company used the incremental borrowing rate based on the information available at lease commencement in determining the present value of lease payments. The following table presents supplemental balance sheet information related to leases as of the dates indicated:

($ in thousands)	September 30, 2022			December 31, 2021
Operating leases:
Operating lease assets	$	6,897		$	6,786
Operating lease liabilities	$	7,402		$	7,444
Weighted-average remaining lease term	4.4 years			4.0 years
Weighted-average discount rate	2.60		%	2.36		%

The following table presents maturities of operating lease liabilities as of the date indicated:

($ in thousands)	September 30, 2022
Maturities:
2022	$	787
2023	2,668
2024	1,237
2025	1,146
2026	860
After 2026	1,267
Total lease payment	7,965
Imputed Interest	(563)
Present value of operating lease liabilities	$	7,402