Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

v3.23.2
COMMITMENTS AND CONTINGENCIES (Tables)
 6 Months Ended
Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease Cost
The following table summarizes the Company’s leases as of June 30, 2023 and December 31, 2022 (dollar amounts in thousands):
June 30, 2023 December 31, 2022
Right-of-use assets, included in Other assets $ 12,203  $ 15,260 
Lease Liabilities, included in Other liabilities $ 14,642  $ 17,490 
Weighted-average remaining lease term (in years) 3.9 4.2
Weighted-average discount rate 4.05  % 4.24  %
The components of lease expense included in general and administrative in the condensed consolidated statements of operations for the six months ended June 30, 2023 and 2022 are as follows (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2023 2022 2023 2022
Operating lease costs $ 1,332  1,056 2,341 2,121
Variable lease costs 42  70 106 102
Total lease costs, included in general and administrative expenses $ 1,374  $ 1,126  $ 2,447  $ 2,223 
Cash paid for amounts included in the measurement of operating lease liabilities $ 1,445  $ 894  $ 2,737  $ 2,061 
Schedule of Maturities of Operating Lease Liabilities
As of June 30, 2023, the maturities of operating lease liabilities were as follows (in thousands):
2023 (excluding the six months ended June 30, 2023) $ 2,811 
2024 3,969 
2025 3,041 
2026 2,924 
2027 2,667 
Thereafter 105 
Total lease liabilities 15,517 
Less: Imputed interest (875)
Total operating lease liabilities $ 14,642