Leases (Tables)

3 Months Ended

Mar. 31, 2024

The components of lease expense are as follows:

	Three months ended
(in thousands)	March 31, 2024		March 31, 2023
Operating lease expense	$	173	$	162
Finance lease cost
Amortization of right-to-use assets	$	2	$	1
Interest on lease liabilities	$	1	$	1
Total finance lease cost	$	3	$	2

Supplemental cash flow information related to leases are as follows:

	Three months ended
(in thousands)	March 31, 2024		March 31, 2023

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flow use from operating leases	$	153	$	150
Operating cash flow use from finance leases	$	3	$	1
Financing cash flow use from finance leases	$	2	$	1

Non-cash activity:

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	-	$	-
Finance Leases	$	-	$	-

Weighted average remaining lease terms are as follows at March 31, 2024:

Weighted average remaining lease term:
Operating leases		3.3 years
Finance Leases		2.8 years

Below is information on the weighted average discount rates used at the time that the leases were evaluated:

Weighted average discount rates:
Operating leases	4.8	%
Finance Leases	6.2	%

Maturities of lease liabilities are as follows:

(in thousands) Year ending December 31,	Operating Leases			Finance Leases
2024 (excluding three months ended March 31, 2024)		466			8
2025		630			11
2026		643			11
2027		380			-
Total lease payments	$	2,119		$	30
Less imputed interest		(165	)		(2	)
Present value of lease liabilities	$	1,954		$	28