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Leases (Tables)
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Components of Lease Expense

The following table provides a summary of the components of lease income and expense, as well as the reporting location in the Consolidated Statements of Operations for the years ended December 31, 2023 and 2022:

 

 

 

 

 

 

Year Ended

 

 

 

Location

 

December 31,
2023

 

 

December 31,
2022

 

 

 

 

 

(Dollars in Thousands)

 

Operating lease income (1)

 

Lease income

 

$

949

 

 

$

864

 

Operating lease expense (2)

 

Net occupancy and equipment

 

$

460

 

 

$

434

 

 

(1)
Operating lease income includes rental income from owned properties.
(2)
Includes short-term lease costs. For the years ended December 31, 2023 and 2022, short-term lease costs were nominal in amount.

 

 

 

 

 

 

 

 

 

 

 

Location

 

December 31,
2023

 

 

December 31,
2022

 

 

 

 

 

(Dollars in
Thousands)

 

 

(Dollars in
Thousands)

 

Operating lease right-of-use assets

 

Other assets

 

$

2,019

 

 

$

1,883

 

Operating lease liabilities

 

Other liabilities

 

$

2,055

 

 

$

1,961

 

Weighted-average remaining lease term (in years)

 

 

 

 

6.37

 

 

 

5.03

 

Weighted-average discount rate

 

 

 

 

4.10

%

 

 

3.30

%

 

 

 

Year Ended

 

 

 

December 31,
2023

 

 

December 31,
2022

 

 

 

(Dollars in Thousands)

 

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

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

455

 

 

$

427

 

Future Minimum Operating Lease Payments

The following table is a schedule of remaining future minimum lease payments for operating leases that had an initial or remaining non-cancellable lease term in excess of one year as of December 31, 2023:

 

 

 

Minimum
Rental Payments

 

 

 

(Dollars in
Thousands)

 

2024

 

$

395

 

2025

 

 

295

 

2026

 

 

302

 

2027

 

 

308

 

2028

 

 

269

 

2029 and thereafter

 

 

930

 

Total future minimum lease payments

 

$

2,499

 

Less: Imputed interest

 

 

444

 

Total

 

$

2,055