Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

v3.24.3
COMMITMENTS AND CONTINGENCIES (Tables)
 9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease Cost
The following table summarizes the Company’s leases as of September 30, 2024 and December 31, 2023 (dollar amounts in thousands):
September 30, 2024 December 31, 2023
Right-of-use assets, included in Other assets $ 16,143  $ 17,491 
Lease Liabilities, included in Other liabilities 18,801  19,557 
Weighted-average remaining lease term (in years) 5.4 5.9
Weighted-average discount rate 4.95  % 4.82  %
The components of lease expense included in general and administrative expenses in the condensed consolidated statements of operations for the three and nine months ended September 30, 2024 and 2023 are as follows (in thousands):
Three Months Ended September 30, Nine Months Ended September 30,
2024 2023 2024 2023
Operating lease costs $ 1,248  $ 1,025  $ 3,770  $ 3,367 
Variable lease costs 23  58 150 164
Total lease costs, included in general and administrative expenses $ 1,271  $ 1,083  $ 3,920  $ 3,531 
Cash paid for amounts included in the measurement of operating lease liabilities $ 2,381  $ 1,297  $ 3,098  $ 3,482 
Schedule of Maturities of Operating Lease Liabilities
As of September 30, 2024, the maturities of operating lease liabilities were as follows (in thousands):
2024 (excluding the nine months ended September 30, 2024) $ 1,275 
2025 5,134 
2026 4,618 
2027 3,825 
2028 1,251 
2029 1,222 
Thereafter 4,275 
Total lease liabilities 21,600 
Less: Imputed interest (2,799)
Total operating lease liabilities $ 18,801