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Leases (Tables)
12 Months Ended
Dec. 31, 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.

 

 

 

December 31,

 

 

 

2022

 

 

2021

 

 

 

(Dollars in thousands)

 

Lease Assets and Liabilities

 

 

 

 

 

 

ROU assets

 

$

22,696

 

 

$

19,274

 

Total lease liabilities

 

 

24,458

 

 

 

20,864

 

 

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

 

 

(Dollars in thousands)

 

Lease Cost

 

 

 

 

 

 

Operating lease expense (1)

 

$

7,387

 

 

$

6,613

 

Sublease income

 

 

 

 

 

 

Total lease expense

 

$

7,387

 

 

$

6,613

 

 

(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

 

$

7,396

 

 

$

7,081

 

 

 

 

December 31,

 

 

 

2022

 

 

2021

 

Lease Term and Discount Rate

 

 

 

 

 

 

Weighted average remaining lease term (years)

 

 

4.12

 

 

 

4.26

 

Weighted average discount rate

 

 

2.80

%

 

 

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 December 31, 2022, excluding property taxes and insurance, are as follows:

 

 

 

December 31, 2022

 

 

 

(Dollars in thousands)

 

Year:

 

 

 

2023

 

$

7,168

 

2024

 

 

6,080

 

2025

 

 

5,324

 

2026

 

 

4,037

 

2027

 

 

2,545

 

Thereafter

 

 

803

 

Total future lease payments

 

 

25,957

 

Less: Imputed interest

 

 

(1,499

)

Present value of lease liabilities

 

$

24,458