Annual report [Section 13 and 15(d), not S-K Item 405]

COMMITMENTS AND CONTINGENCIES (Tables)

v3.25.0.1
COMMITMENTS AND CONTINGENCIES (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease Cost
The following table summarizes the Company’s leases as of December 31, 2024 and 2023 (dollar amounts in thousands):
December 31,
2024 2023
Right-of-use assets, included in Other assets $ 15,147  $ 17,491 
Lease Liabilities, included in Other liabilities $ 17,759  $ 19,557 
Weighted-average remaining lease term (in years) 5.3 5.9
Weighted-average discount rate 4.97  % 4.82  %
The components of lease expense included in general and administrative expenses in the consolidated statements of operations for the years ended December 31, 2024 and 2023 are as follows (in thousands):
Year Ended December 31,
2024 2023 2022
Operating lease costs $ 5,046  $ 4,562  $ 4,310 
Variable lease costs 193  222  204 
Total lease costs, included in general and administrative expenses $ 5,239  $ 4,784  $ 4,514 
Cash paid for amounts included in the measurement of operating lease liabilities $ 4,373  $ 4,935  $ 4,410 
Schedule of Maturities of Operating Lease Liabilities
As of December 31, 2024, the maturities of operating lease liabilities were as follows (in thousands):
2025 $ 5,134 
2026 4,618 
2027 3,954 
2028 1,396 
2029 1,308 
Thereafter 4,275 
Total lease liabilities 20,685 
Less: Imputed interest (2,926)
Total operating lease liabilities $ 17,759