LEASES |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||
| LEASES | Note 13—LEASES The Company has operating leases on three of its facilities at December 31, 2025 and three of its facilities at December 31, 2024. The remaining three leases have maturities ranging from May 2027 to December 2038 some of which include extensions of multiple five-year terms. The right-of-use asset was $2.2 million and $2.5 million at December 31, 2025 and December 31, 2024, respectively. The lease liability was $2.4 million and $2.6 million at December 31, 2025 and December 31, 2024, respectively. During the twelve-month period ended December 31, 2025, the Company made cash payments in the amount of $432.9 thousand for operating leases and the lease liability was reduced by $780.0 thousand. The lease expense recognized during the twelve-month periods ended December 31, 2025, December 31, 2024, and December 31, 2023 amounted to $389.6 thousand, $423.9 thousand, and $448.5 thousand, respectively. The weighted average remaining lease term as of December 31, 2025, is s10.74 years and the weighted average discount rate used is 4.24%. The following table shows future undiscounted lease payments for operating leases with initial terms of one year or more as of December 31, 2025.
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