v3.26.1
Leases (Tables)
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Lease Portfolio and Other Supplemental Lease Information

The following tables summarize information related to the Company’s lease portfolio and other supplemental lease information as of and for the periods ended:

 

 

June 30, 2026

 

 

December 31, 2025

 

 

 

Operating

 

 

Finance

 

 

Operating

 

 

Finance

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

ROU assets

 

$

6,143

 

 

$

 

 

$

5,354

 

 

$

 

Lease liabilities

 

 

6,143

 

 

 

1,421

 

 

 

5,354

 

 

 

1,452

 

Lease Term and Discount Rate:

 

 

 

 

 

 

 

 

 

 

 

 

   Weighted-average remaining lease term (years)

 

 

13.66

 

 

 

12.92

 

 

 

13.10

 

 

 

13.42

 

   Weighted-average discount rate(1)

 

 

8.63

%

 

 

8.12

%

 

 

7.87

%

 

 

8.12

%

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) A lease implicit rate or incremental borrowing rate is used based on information available at commencement date of lease.

 

 

 

 

 

 

 

 

 

 

 

 

Components of Operating Lease Cost and Other Related Information

 

 

Three months ended June 30,

 

(Dollars in thousands)

 

2026

 

 

2025

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

   Operating cash flows from operating leases

 

$

72

 

 

$

74

 

   Principal payments on finance lease

 

 

16

 

 

 

14

 

Net operating lease cost

 

 

72

 

 

 

74

 

Finance lease cost:

 

 

 

 

 

 

   Amortization of right-of-use assets

 

 

16

 

 

 

14

 

   Interest on lease liabilities

 

 

24

 

 

 

24

 

Total lease cost

 

$

112

 

 

$

112

 

 

 

 

 

 

 

 

 

 

Six months ended June 30,

 

(Dollars in thousands)

 

2026

 

 

2025

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

   Operating cash flows from operating leases

 

$

145

 

 

$

146

 

   Principal payments on finance lease

 

 

31

 

 

 

28

 

ROU assets obtained in exchange for lease obligations:

 

 

 

 

 

 

   Operating leases

 

 

934

 

 

 

 

Net operating lease cost

 

 

145

 

 

 

146

 

Finance lease cost:

 

 

 

 

 

 

   Amortization of right-of-use assets

 

 

31

 

 

 

28

 

   Interest on lease liabilities

 

 

48

 

 

 

49

 

Total lease cost

 

$

224

 

 

$

223

 

Schedule of Total Minimum Lease Payments Due In Future Periods For Lease Agreements

 

The total minimum lease payments due in future periods for lease agreements in effect at June 30, 2026 were as follows:

As of June 30, 2026

 

Future Minimum Lease Payments

 

 (Dollars in thousands)

 

Operating

 

 

Finance

 

2026

 

$

347

 

 

$

162

 

2027

 

 

702

 

 

 

166

 

2028

 

 

719

 

 

 

170

 

2029

 

 

736

 

 

 

174

 

2030

 

 

722

 

 

 

178

 

2031

 

 

693

 

 

 

183

 

Thereafter

 

 

6,402

 

 

 

1,401

 

Total minimum lease payments

 

 

10,321

 

 

 

2,434

 

Less: interest

 

 

(4,178

)

 

 

(1,013

)

Total lease liability

 

$

6,143

 

 

$

1,421