Leases

6 Months Ended

Jun. 30, 2025

Note 9 - Leases

The Company has operating leases on three of its facilities at June 30, 2025 and December 31, 2024. All leases commenced prior to 2024. The three leases have maturities ranging from May 2027 to December 2038, some of which include extensions of multiple two-year terms. The following tables present information about the Company’s leases:

Schedule of Lease Information

(Dollars in thousands)	June 30, 2025			December 31, 2024
Right-of-use assets	$	2,336		$	2,477
Lease liabilities	$	2,511		$	2,646
Weighted average remaining lease term		10.95 years			11.21 years
Weighted average discount rate		4.20	%		4.21	%


	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands)	2025		2024		2025		2024
Operating lease cost	$	97.4	$	112.1	$	194.8	$	224.2
Cash paid for amounts included in the measurement of lease liabilities	$	93.9	$	105.4	$	187.8	$	210.6

The following table shows future undiscounted lease payments for operating leases with initial terms of one year or more as of June 30, 2025.

(Dollars in thousands)
Year	Operating Leases
2025	$	190
2026		386
2027		363
2028		303
2029		178
Thereafter		1,766
Total undiscounted lease payments	$	3,186
Less effect of discounting		(675	)
Present value of estimated lease payments (lease liability)	$	2,511

FIRST COMMUNITY CORP /SC/ 10-Q