Quarterly report [Sections 13 or 15(d)]

COMMITMENTS AND CONTINGENCIES (Tables)

v3.25.1
COMMITMENTS AND CONTINGENCIES (Tables)
 3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease Cost
The following table summarizes the Company’s leases as of March 31, 2025 and December 31, 2024 (dollar amounts in thousands):
March 31, 2025 December 31, 2024
Right-of-use assets, included in Other assets $ 14,162  $ 15,147 
Lease Liabilities, included in Other liabilities 16,628  17,759 
Weighted-average remaining lease term (in years) 5.1 5.3
Weighted-average discount rate 4.99  % 4.97  %
The components of lease expense included in general and administrative expenses in the condensed consolidated statements of operations for the three months ended March 31, 2025 and 2024 are as follows (in thousands):
Three Months Ended March 31,
2025 2024
Operating lease costs $ 1,250  $ 1,214 
Variable lease costs 33 64
Total lease costs, included in general and administrative expenses $ 1,283  $ 1,278 
Cash paid for amounts included in the measurement of operating lease liabilities $ 1,374  $ 1,299 
Schedule of Maturities of Operating Lease Liabilities
As of March 31, 2025, the maturities of operating lease liabilities were as follows (in thousands):
2025 (excluding the three months ended March 31, 2025) $ 3,841 
2026 4,618 
2027 3,954 
2028 1,396 
2029 1,308 
Thereafter 4,275 
Total lease liabilities 19,392 
Less: Imputed interest (2,764)
Total operating lease liabilities $ 16,628