v3.26.1
Operating Leases (Tables)
6 Months Ended
Jun. 30, 2026
Leases, Operating [Abstract]  
Schdule of Operating Lease Right-of-Use assets and Related lease liability

Below is a summary of the operating lease right-of-use asset and related lease liability, as well as the weighted average lease term (in years), weighted average discount rate and total rent expense as of the dates and periods indicated.

 

(Dollars in thousands)

 

June 30, 2026

 

 

December 31, 2025

 

Right-of-use asset

 

$

4,857

 

 

$

5,297

 

Lease liability

 

$

5,382

 

 

$

5,757

 

Weighted average remaining lease term (in years)

 

 

5.7

 

 

 

6.1

 

Weighted average discount rate (annualized)

 

 

4.58

%

 

 

4.58

%

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2026

 

 

June 30, 2025

 

 

June 30, 2026

 

 

June 30, 2025

 

Rent expense

 

$

220

 

 

$

220

 

 

$

440

 

 

$

436

 

Cash paid for operating lease liabilities

 

$

267

 

 

$

263

 

 

$

530

 

 

$

520

 

Schedule of Future Minimum Rental Payments Operating Leases

At June 30, 2026, future minimum payments for operating leases are payable as follows:

 

(Dollars in thousands)

 

 

 

Years ending December 31:

 

 

 

2026

 

 

505

 

2027

 

 

1,037

 

2028

 

 

1,118

 

2029

 

 

1,129

 

2030

 

 

1,038

 

Thereafter

 

 

1,318

 

Total lease payments

 

$

6,145

 

Less: imputed interest

 

 

(763

)

Present value of lease liability

 

$

5,382