v3.26.1
LEASE OBLIGATIONS
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
LEASE OBLIGATIONS

NOTE 6 – LEASE OBLIGATIONS

Right-of-use asset and lease obligations by type of property for the periods ended June 30, 2026, and December 31, 2025, are listed below.

June 30, 2026

 

Right-of-Use
Asset

 

 

Lease
Liability

 

 

Weighted
Average
Lease Term
in Years

 

 

Weighted
Average
Discount
Rate

 

Operating Leases

 

 

 

 

 

 

 

 

 

 

 

 

Land and building leases

 

$

5,902

 

 

$

5,834

 

 

 

8.7

 

 

 

3.39

%

Total operating leases

 

$

5,902

 

 

$

5,834

 

 

 

8.7

 

 

 

3.39

%

 

December 31, 2025

 

Right-of-Use
Asset

 

 

Lease
Liability

 

 

Weighted
Average
Lease Term
in Years

 

 

Weighted
Average
Discount
Rate

 

Operating Leases

 

 

 

 

 

 

 

 

 

 

 

 

Land and building leases

 

$

3,528

 

 

$

3,527

 

 

 

12.1

 

 

 

3.29

%

Total operating leases

 

$

3,528

 

 

$

3,527

 

 

 

12.1

 

 

 

3.29

%

Operating lease costs for the three and six months ended June 30, 2026, and 2025, are listed below.

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2026

 

 

June 30, 2025

 

 

June 30, 2026

 

 

June 30, 2025

 

Operating lease cost

 

$

396

 

 

$

162

 

 

$

788

 

 

$

318

 

Short-term lease cost

 

 

 

 

 

 

 

 

 

 

 

 

Variable lease cost

 

 

107

 

 

 

24

 

 

 

239

 

 

 

45

 

Total operating lease cost

 

$

503

 

 

$

186

 

 

$

1,027

 

 

$

363

 

 

There were no sale and leaseback transactions, leverage leases, lease transactions with related parties or leases that had not yet commenced during the three or six month periods ended June 30, 2026.

A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is listed below.

Lease Payments

 

June 30,
2026

 

Due in one year or less

 

$

1,184

 

Due after one year through two years

 

 

1,181

 

Due after two years through three years

 

 

1,006

 

Due after three years through four years

 

 

903

 

Due after four years through five years

 

 

617

 

Thereafter

 

 

1,893

 

Total undiscounted cash flows

 

 

6,784

 

Discount on cash flows

 

 

(950

)

Total operating lease liability

 

$

5,834