v3.25.4
Leases
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases Leases
The Company recognizes the following for all leases, at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use (“ROU”) asset, which is an asset that represents the lessee’s right to use, or control the use, of a specified asset for the lease term. The Company is impacted as a lessee of the offices and real estate used for operations. The Company's lease agreements include options to renew at the Company's option. No lease extensions are reasonably certain to be exercised, therefore it was not considered in the calculation of the ROU asset and lease liability. As of December 31, 2025 and December 31, 2024, operating lease ROU assets, included in other assets and lease liabilities, included in other liabilities, totaled $28,471,000 and $30,566,000, respectively.
The following table presents the quantitative information for the Company’s leases:
Year Ended
December 31,
20252024
(Dollars in thousands)
Operating Lease Cost (Cost resulting from lease payments)$6,851 $6,853 
Operating Lease - Operating Cash Flows (Fixed Payments)$6,861 $6,943 
Operating Lease - ROU assets$28,471 $30,566 
Operating Lease - Liabilities$28,471 $30,566 
Weighted Average Lease Term - Operating Leases4.60 years5.08 years
Weighted Average Discount Rate - Operating Leases5.87%5.57%
The following maturity analysis shows the undiscounted cash flows due on the Company’s operating lease liabilities as of December 31, 2025:
(Dollars in thousands)
2026$7,138 
20277,175 
20286,597 
20296,346 
20304,297 
Thereafter1,014 
Total undiscounted cash flows32,567 
Discount on cash flows(4,096)
Total lease liability$28,471