Quarterly report pursuant to Section 13 or 15(d)


3 Months Ended
Dec. 31, 2021
Note 5 - Leases

5. Leases


The Company leases space for all its branch offices, which are generally located either in downtown or suburban business centers, and for its corporate headquarters. Branch offices are generally leased over periods ranging from three to five years. The corporate office lease expires in 2026. The Company’s leases generally provide for payment of basic rent plus a share of building real estate taxes, maintenance costs and utilities.

Operating lease expenses were $534 and $561 for the three-month periods ended December 31, 2021 and 2020, respectively.


Supplemental cash flow information related to leases consisted of the following:




Three Months Ended December 31,









Cash paid for operating lease liabilities


$ 484



$ 493



Supplemental balance sheet information related to leases consisted of the following:




December 31, 2021



September 30, 2021


Weighted average remaining lease term for operating leases


2.4 years



2.7 years


Weighted average discount rate for operating leases



5.9 %



5.9 %


The table below reconciles the undiscounted future minimum lease payments under non-cancelable lease agreements having initial terms in excess of one year to the total operating lease liabilities recognized on the unaudited condensed consolidated balance sheet as of December 31, 2021, including certain closed offices are as follows:


Remainder of Fiscal 2022


$ 1,403


Fiscal 2023





Fiscal 2024





Fiscal 2025





Fiscal 2026










Less: Imputed interest



(362 )

Present value of operating lease liabilities (a)


$ 4,280



(a) Includes current portion of $1,646 for operating leases.