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Leases (Tables)
3 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Summary of Supplemental Balance Sheet Information

The following table contains supplemental balance sheet information related to leases (dollars in thousands):

 

 

 

March 31, 2023

 

 

March 31, 2022

 

 

December 31, 2022

 

Operating lease right-of-use assets

 

$

15,092

 

 

$

15,242

 

 

$

15,774

 

Operating lease liabilities

 

 

15,353

 

 

 

15,458

 

 

 

16,035

 

Weighted-average remaining lease term (in years)

 

 

5.6

 

 

 

6.9

 

 

 

5.8

 

Weighted-average discount rate

 

 

2.68

%

 

 

2.67

%

 

 

2.67

%

Summary of Maturities of Lease Liabilities

Maturities of lease liabilities are as follows (in thousands):

Year ending December 31,

 

 

 

2023

 

$

2,282

 

2024

 

 

2,610

 

2025

 

 

2,178

 

2026

 

 

2,067

 

2027

 

 

3,557

 

Thereafter

 

 

4,488

 

Total lease payments

 

 

17,182

 

Less imputed interest

 

 

(1,829

)

Total lease liability

 

$

15,353

 

Summary of Components of Lease Expense

The components of lease expense for the three months ended March 31, 2023 and 2022 were as follows (in thousands):

 

 

Three months ended March 31,

 

 

 

2023

 

 

2022

 

Operating lease cost

 

$

753

 

 

$

629

 

Short-term lease cost

 

 

30

 

 

 

27

 

Variable lease cost

 

 

223

 

 

 

266

 

Total lease cost

 

 

1,006

 

 

 

922

 

Income from subleases

 

 

(94

)

 

 

(100

)

Net lease cost

 

$

912

 

 

$

822

 

Summary of Operating Lease Cash Flows Cash paid for amounts included in the measurement of lease liabilities was (in thousands):

 

 

March 31, 2023

 

 

March 31, 2022

 

Operating cash flows from operating leases

 

$

781

 

 

$

722