v3.25.4
LEASES
12 Months Ended
Dec. 31, 2025
Leases  
LEASES

12.LEASES

 

The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. We have not elected the practical expedient to account for lease and non-lease components as one lease component. The Company has operating leases for certain of our banking offices and ATMs. Our leases have remaining lease terms of less than one year to thirteen years, some of which include options to extend the leases for additional five-year terms up to ten years. Operating lease costs were $1.6 million, $1.6 million, and $1.6 million for the years ended December 31, 2025, 2024 and 2023, respectively.

 

Supplemental cash flow information related to leases was as follows:

 

               
   Year Ended December 31, 
   2025   2024 
   (Dollars in thousands) 
         
Cash paid for amounts included in the measurement of lease liabilities:          
  Operating cash flows from operating leases  $1,526   $1,524 
ROU assets obtained in exchange for lease obligations:          
Operating leases   252    451 

 

Supplemental balance sheet information related to leases was as follows:

 

   December 31, 2025   December 31, 2024 
   (Dollars in thousands) 
         
Operating lease ROU assets  $6,370   $7,383 
Operating lease liabilities  $6,660   $7,673 

 

At December 31, 2025, the weighted average remaining lease term for our operating leases was 8.0 years with a weighted average discount rate of 3.37%. At December 31, 2024, the weighted average remaining lease term for our operating leases was 8.4 years with a weighted average discount rate of 3.33%.

 

Future undiscounted lease payments for the Company’s operating lease liabilities were as follows (in thousands):

 

      
Years Ending December 31,     
2026   $1,404 
2027    1,145 
2028    907 
2029    866 
2030    639 
Thereafter    2,695 
Total lease payments    7,656 
Less imputed interest    (996)
Total   $6,660