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Leases (Tables)
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Summary of Supplemental Balance Sheet Information The following table contains supplemental balance sheet information related to leases (dollars in thousands):

 

 

 

2023

 

 

2022

 

Operating lease right-of-use assets

 

$

14,306

 

 

$

15,774

 

Operating lease liabilities

 

 

14,615

 

 

 

16,035

 

Weighted-average remaining lease term (in years)

 

4.9

 

 

5.8

 

Weighted-average discount rate

 

 

3.21

%

 

 

2.67

%

Summary of Future Minimum Lease Payments

Future minimum lease payments under operating leases are (in thousands):

 

 

 

Operating Leases

 

2024

 

$

3,001

 

2025

 

 

2,535

 

2026

 

 

2,373

 

2027

 

 

2,146

 

2028

 

 

1,551

 

Thereafter

 

 

4,872

 

Total minimum lease payments

 

 

16,478

 

Less imputed interest

 

 

(1,863

)

Total lease liability

 

$

14,615

 

 

Summary of Components of Lease Expense

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

 

 

 

2023

 

 

2022

 

Operating lease cost

 

$

3,280

 

 

$

3,040

 

Short-term lease cost

 

 

84

 

 

 

75

 

Variable lease cost

 

 

821

 

 

 

720

 

Total lease cost

 

 

4,185

 

 

 

3,835

 

Income from subleases

 

 

(382

)

 

 

(369

)

Net lease cost

 

$

3,803

 

 

$

3,466

 

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

 

 

 

2023

 

 

2022

 

Operating cash flows from operating leases

 

$

3,263

 

 

$

3,061