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Leases
3 Months Ended
Mar. 31, 2022
Leases  
Leases

Note 11 — Leases

The Company leases certain buildings, land and equipment that are classified as operating leases. These leases have remaining lease terms of up to approximately 20 years.  In the first quarter of 2022 and 2021, operating lease cost and cash paid for operating lease liabilities totaled $279 and $258, respectively, which is classified in cash flows from

operating activities.  As of March 31, 2022 and 2021, operating lease right-of-use assets and operating lease liabilities were $7,220 and $653, respectively. The weighted-average remaining lease term related to these operating leases was 8.1 years and 1.0 years as of March 31, 2022 and 2021, respectively. The weighted-average discount rate related to the Company’s operating leases was 2.0% and 3.1% as of March 31, 2022 and 2021, respectively. Maturities of the Company’s operating lease liabilities at March 31, 2022 are as follows: $1,037 in 2022 (rest of year), $627 in 2023, $421 in 2024, $422 in 2025, $401 in 2026 and $4,312 thereafter.

The Company, as lessor, rents certain commercial real estate to third-party lessees. The March 31, 2022 and 2021 cost related to these leased properties was $51,370 and $51,402, respectively, and the accumulated depreciation related to these leased properties was $16,108 and $15,001, respectively. Terms of such leases, including renewal options, may be extended for up to fifty-eight years, many of which provide for periodic adjustment of rent payments based on changes in consumer or other price indices. The Company recognizes lease income on a straight-line basis over the lease term. Lease income in first quarter 2022 and 2021 was $1,213 and $1,230, respectively, and is classified in cash flows from operating activities.