Leases (Tables)

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

Summary of Classification of Right of Use Assets and Lease Liabilities

The following table represents the consolidated statements of financial condition classification of the Company’s right of use assets and lease liabilities (in thousands):


				June 30,				December 31,
		Balance Sheet Location		2026				2025
Operating Lease Right of Use Assets:
Gross carrying amount		Other assets		$	41,542			$	40,329
Accumulated amortization		Other assets			(12,224	)			(11,263	)
Net book value				$	29,318			$	29,066

Operating Lease Liabilities:
Right of use lease obligations		Other liabilities		$	31,879			$	31,575

Summary of Lease Costs and Other Lease Information

The following table represents lease costs, primarily included in occupancy and equipment expenses on the consolidated statement of operations, and other cash flow information (in thousands):


		Three months ended June 30,								Six months ended June 30,
		2026				2025				2026				2025
Lease costs:
Operating lease costs		$	817			$	782			$	1,631			$	1,559
Variable lease costs (1)			116				98				244				221
Short-term lease cost			15				2				23				6
Sublease income			—				(35	)			(22	)			(69	)
Net lease costs		$	948			$	847			$	1,876			$	1,717

Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	799			$	756			$	1,596			$	1,512
Right of use assets obtained in exchange for new operating lease liabilities		$	315			$	—			$	1,214			$	311

(1)

Variable lease costs primarily represent variable payments such as common area maintenance, insurance, taxes and utilities.

Summary of Future Minimum Payments Under Non-cancellable Operating Leases

Future minimum payments under non-cancellable operating leases with initial or remaining terms of one year or more, are as follows at June 30, 2026 (in thousands):


Twelve months ended June 30,
2026	$	1,606
2027		3,144
2028		2,823
2029		2,524
2030		2,424
Thereafter		37,581
Total future minimum operating lease payments		50,102
Amounts representing interest		(18,223	)
Present value of net future minimum operating lease payments	$	31,879