v3.26.1
Lease Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Schedule of the right of use asset (net of accumulated amortization), lease liability and other information related to the Company's operating leases

The table below details the right of use asset (net of accumulated amortization), lease liability and other information related to the Company's operating leases:

 

 

Consolidated Balance

 

 

 

 

 

 

(dollars in thousands)

 

Sheet Classification

 

March 31, 2026

 

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

Operating lease right of use asset

 

Other assets

 

$

652

 

 

$

709

 

Operating lease liabilities

 

Other liabilities

 

$

693

 

 

$

751

 

 

 

 

 

 

 

 

 

 

Other information related to leases:

 

 

 

 

 

 

 

 

Weighted average remaining lease term of operating leases

 

 

 

3.8 years

 

 

4.0 years

 

Weighted average discount rate of operating leases

 

 

 

 

4.47

%

 

 

4.47

%

 

 

 

 

 

 

 

 

 

Schedule of Company's lease cost

The table below details the Company's lease cost, which is included in occupancy expense in the Consolidated Statements of Income.

 

 

 

Three months ended March 31,

 

(dollars in thousands)

 

2026

 

 

2025

 

 

 

 

 

 

 

 

Operating lease cost

 

$

80

 

 

$

71

 

 

 

 

 

 

 

Cash paid for lease liability

 

$

61

 

 

$

59

 

Schedule of maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability

A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows:

 

(dollars in thousands)

 

As of March 31, 2026

 

Lease payments due:

 

 

 

Within one year

 

$

209

 

After one but within two years

 

 

114

 

After two but within three years

 

 

75

 

After three but within four years

 

 

75

 

After four but within five years

 

 

75

 

After five years

 

 

173

 

Total undiscounted lease payments

 

 

721

 

Less: imputed interest

 

 

28

 

Present value of operating lease liabilities

 

$

693