PCB BANCORPPCB

PCB BANCORP Leases Disclosure

10-KFiled Mar 16, 20261 min read
Operating Leases
The following table presents operating lease cost and supplemental cash flow information related to leases for the periods indicated:
Year Ended December 31,
($ in thousands)202520242023
Operating lease cost (1)
$3,780 $3,625 $3,143 
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases3,694 3,439 3,297 
Right-of-use assets obtained in exchange for lease obligations
2,958 973 15,317 
Right-of-use assets impairment (2)
238 — — 
(1)    Included in Occupancy and Equipment on the Consolidated Statements of Income.
(2)    Included in Other Expense on the Consolidated Statements of Income.
The Company used the incremental borrowing rate based on the information available in determining the present value of lease payment. The following table presents supplemental balance sheet information related to leases as of the dates indicated:
December 31,
($ in thousands)20252024
Operating leases:
Operating lease assets$17,158 $17,254 
Operating lease liabilities18,996 18,671 
Weighted-average remaining lease term7.1 years7.8 years
Weighted-average discount rate4.78 %4.72 %
The following table presents maturities of operating lease liabilities as of the date indicated:
($ in thousands)December 31, 2025
Maturities:
2026$3,562 
20273,192 
20283,085 
20292,930 
20302,778 
After 20307,585 
Total lease payment
23,132 
Imputed interest
(4,136)
Present value of operating lease liabilities
$18,996 

Historical Timeline

Fiscal YearFiled
2025Mar 16, 2026Showing above
2024Mar 13, 2025
2023Mar 12, 2024
2022Mar 9, 2023
2021Mar 4, 2022
2020Mar 11, 2021
2019Mar 9, 2020

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

Other Available Disclosures

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