Leases

9 Months Ended

Sep. 30, 2020

(6) LEASES

The Company has leased premises that expire at various dates through November 30, 2027 subject to various operating leases. The Company has implemented ASC Topic 842 under a modified retrospective approach in which no adjustments have been made to the prior year balances.

The following table presents the operating lease costs and additional information for the three and nine months ended September 30, 2020 and 2019.

	Three Months Ended September 30,					Nine Months Ended September 30,
(Dollars in thousands)	2020			2019		2020			2019
Operating lease costs	$	596		$	531	$	1,788		$	1,593
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases		632			556		1,994			1,680
Right-of-use asset obtained in exchange for lease liability		(14	)		29		(42	)		(1	)

The following table presents the breakout of the operating leases as of September 30, 2020 and December 31, 2019.

(Dollars in thousands)	September 30, 2020			December 31, 2019
Operating lease right-of-use assets	$	11,944		$	13,482
Other current liabilities		2,086			2,085
Operating lease liabilities		11,159			12,738
Total operating lease liabilities		13,245			14,823
Weighted average remaining lease term	6.6 years			7.3 years
Weighted average discount rate		5.55	%		5.54	%

At September 30, 2020, maturities of the lease liabilities were as follows:

(Dollars in thousands)
Remainder of 2020	$	644
2021		2,474
2022		2,406
2023		2,356
2024		2,373
Thereafter		5,911
Total lease payments	$	16,164
Less imputed interest		2,919
Total operating lease liabilities	$	13,245