Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

v3.23.3
COMMITMENTS AND CONTINGENCIES (Tables)
 9 Months Ended
Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease Cost
The following table summarizes the Company’s leases as of September 30, 2023 and December 31, 2022 (dollar amounts in thousands):
September 30, 2023 December 31, 2022
Right-of-use assets, included in Other assets $ 10,573  $ 15,260 
Lease Liabilities, included in Other liabilities $ 12,572  $ 17,490 
Weighted-average remaining lease term (in years) 3.9 4.2
Weighted-average discount rate 3.99  % 4.24  %
The components of lease expense included in general and administrative in the condensed consolidated statements of operations for the nine months ended September 30, 2023 and 2022 are as follows (in thousands):
Three Months Ended September 30, Nine Months Ended September 30,
2023 2022 2023 2022
Operating lease costs $ 1,025  1,116 3,367 3,237
Variable lease costs 58  71 164 173
Total lease costs, included in general and administrative expenses $ 1,083  $ 1,187  $ 3,531  $ 3,410 
Cash paid for amounts included in the measurement of operating lease liabilities $ 1,297  $ 1,043  $ 3,482  $ 3,104 
Schedule of Maturities of Operating Lease Liabilities
As of September 30, 2023, the maturities of operating lease liabilities were as follows (in thousands):
2023 (excluding the nine months ended September 30, 2023) $ 1,173 
2024 3,373 
2025 3,041 
2026 2,924 
2027 2,667 
Thereafter 105 
Total lease liabilities 13,283 
Less: Imputed interest (711)
Total operating lease liabilities $ 12,572