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Leases (Tables)
6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Components of lease costs and supplemental information related to leases

The tables below present the components of lease costs and supplemental information related to leases as of and for the periods presented.

 

 

 

 

 

 

 

June 30,
2022

 

 

December 31,
2021

 

 

 

 

 

 

 

(Dollars in thousands)

 

Lease Assets and Liabilities

 

 

 

 

 

 

 

 

 

 

ROU assets

 

 

 

 

 

$

24,503

 

 

$

19,274

 

Total lease liabilities

 

 

 

 

 

 

26,070

 

 

 

20,864

 

 

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

(Dollars in thousands)

 

Lease Cost

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease expense (1)

 

$

1,849

 

 

$

1,681

 

 

$

3,695

 

 

$

3,343

 

Sublease income

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Total lease expense

 

$

1,849

 

 

$

1,681

 

 

$

3,695

 

 

$

3,343

 

 

(1)
Includes short-term leases and variable lease costs, which are immaterial.

 

Other Information

 

 

 

 

 

 

 

 

 

 

 

 

Cash paid for amounts included in the
   measurement of lease liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Operating cash outflows from operating
   leases, net

 

$

1,860

 

 

$

1,845

 

 

$

3,711

 

 

$

3,664

 

 

 

 

 

 

 

 

 

June 30,
2022

 

 

December 31,
2021

 

Lease Term and Discount Rate

 

 

 

 

 

 

 

 

 

 

Weighted average remaining lease term
   (years)

 

 

 

 

 

 

4.36

 

 

 

4.26

 

Weighted average discount rate

 

 

 

 

 

 

2.64

%

 

 

2.41

%

Future lease payments required for leases that have initial or remaining non-cancelable lease terms The future lease payments required for leases that have initial or remaining non-cancelable lease terms in excess of one year as of June 30, 2022, excluding property taxes and insurance, are as follows:

 

 

 

June 30, 2022

 

 

 

(Dollars in thousands)

 

Year:

 

 

 

2022 (excluding the six months ended June 30, 2022)

 

$

3,677

 

2023

 

 

6,851

 

2024

 

 

5,689

 

2025

 

 

4,907

 

2026

 

 

3,670

 

Thereafter

 

 

2,861

 

Total future lease payments

 

 

27,655

 

Less: Imputed interest

 

 

(1,585

)

Present value of lease liabilities

 

$

26,070