Lease Commitment (Tables)

6 Months Ended

Jun. 30, 2023

The following tables present information about the Company’s leases as of the dates and for the periods noted below:


Dollars in Thousands	June 30, 2023			December 31, 2022
Balance Sheet
Operating Lease Amounts
Right-of-use asset	$	4,826		$	5,065
Lease liability		5,230			5,465
Finance Lease Amounts
Right-of-use asset	$	1,482		$	1,550
Lease liability		1,941			2,006

Supplemental balance sheet information
Weighted average lease term - Operating Leases (Yrs.)		7.60			7.59
Weighted average lease term - Finance Leases (Yrs.)		10.59			11.05
Weighted average discount rate - Operating Leases (1)		2.41	%		2.31	%
Weighted average discount rate - Finance Leases (1)		2.84	%		2.84	%

Income Statement
Three Months Ended	June 30, 2023			June 30, 2022
Operating lease cost classified as premises and equipment	$	250		$	286
Finance lease cost classified as interest on borrowings		14			15
Six Months Ended
Operating lease cost classified as premises and equipment	$	510		$	572
Finance lease cost classified as interest on borrowings		28			30

Operating outgoing cash flows from operating leases	$	486		$	514
Operating outgoing cash flows from finance leases	$	92		$	89

(1)	The discount rate was developed by using the fixed rate credit advance borrowing rate at the FHLB of Atlanta for a term correlating to the remaining life of each lease. Management believes this rate closely mirrors its incremental borrowing rate for similar terms.


	Dollars in Thousands
Operating Leases:
One year or less	$	836
One to three years		1,362
Three to five years		1,065
Over 5 years		2,606
Total undiscounted cash flows		5,869
Less: Discount		(639)
Lease Liabilities	$	5,230

Finance Leases:
One year or less	$	191
One to three years		403
Three to five years		408
Over 5 years		1,263
Total undiscounted cash flows		2,265
Less: Discount		(324)
Lease Liabilities	$	1,941


	Dollars in Thousands
Operating Leases:
One year or less	$	836
One to three years		1,362
Three to five years		1,065
Over 5 years		2,606
Total undiscounted cash flows		5,869
Less: Discount		(639)
Lease Liabilities	$	5,230

Finance Leases:
One year or less	$	191
One to three years		403
Three to five years		408
Over 5 years		1,263
Total undiscounted cash flows		2,265
Less: Discount		(324)
Lease Liabilities	$	1,941

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