(14)	Operating leases

The Company leases certain branch properties under long-term, operating lease agreements. The Company’s operating lease agreements contain lease components, which are generally accounted for separately. The Company’s lease agreements do not contain any residual value guarantees. There are no significant right and obligations of the Company for leases that have not commenced as of the reporting date. The following includes quantitative data related to the Company’s operating leases as of September 30, 2019:

(In thousands, except weighted-average information).
Right-of-use assets	$	1,770
Lease liabilities	$	1,773

Operating lease cost	$	72
Variable lease cost	$	10
Operating outgoing cash flows from operating leases	$	78
Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,840
Weighted-average remaining lease term (Years)		7.8
Weighted-average discount rate		2.50	%

The following is a schedule by year of the undiscounted cash flows of the operating lease liabilities, excluding CAM charges as of September 30, 2019:

(in thousands)
Within the twelve months ended September 30,
2020	$	288
2021		283
2022		245
2023		205
2024		218
Thereafter		722
Total undiscounted cash flow		1,961
Less net present value adjustment		(188	)
Lease Liability	$	1,773

Right-of-use assets are included in prepaid expenses and other assets, and lease liabilities are included in accrued expenses and other liabilities within the Company’s statement of condition. The Company did not have any lease commitments that had not yet commenced at September 30, 2019.