Lease Obligations |
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| Lease Obligations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lease Obligations | Note 12 – Lease Obligations
The Company leases 25 of its offices under various operating lease agreements. The leases have remaining terms of one year to eight years. The leases contain provisions for the payment by the Company of its pro-rata share of real estate taxes, insurance, common area maintenance and other variable expenses. The Company will allocate payments made under such leases between lease and non-lease components. Some leases contain renewal options and options to purchase the assets.
The Company has elected not to recognize a lease liability and a right of use asset for leases with a lease term of 12 or fewer months.
The following tables present certain information related to the Company’s leases (in thousands):
The weighted average remaining lease term for operating leases at September 30, 2026 and December 31, 2025 was 4.25 years and 4.64 years, respectively. The weighted average discount rate for operating leases at September 30, 2026 and December 31, 2025 was 3.72 percent and 3.55 percent, respectively.
The following table summarizes the Company’s maturity of lease obligations for operating leases at September 30, 2026 and December 31, 2025 (in thousands):
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