Leases (Tables)

3 Months Ended

Mar. 31, 2024

The components of operating lease cost and other related information are as follows:


	Three Months Ended March 31,
	2024			2023
	(dollars in thousands)
Operating lease cost	$	1,755		$	1,737
Variable lease cost (cost excluded from lease payments)		8			7
Sublease income		(129	)		(128	)
Total operating lease cost	$	1,634		$	1,616
Other Information
Cash paid for amounts included in the measurement of lease liabilities - operating cash flows for operating leases	$	1,890		$	1,843
Operating Lease - operating cash flows (liability reduction)		1,699			1,653
Weighted average lease term - operating leases	4.81 Years			5.33 Years
Weighted average discount rate - operating leases		3.25	%		3.03	%

The total minimum lease payments due in future periods under these agreements in effect at March 31, 2024 were as follows:


	Future Minimum
	Lease Payments
	(dollars in thousands)
Remainder of 2024	$	5,120
2025		6,104
2026		4,867
2027		3,079
2028		2,710
Thereafter		3,971
Total minimum lease payments	$	25,851
Less: interest		(1,937	)
Total lease liability	$	23,914

CAMBRIDGE BANCORP 10-Q