(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 were no significant rights 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 December 31, 2019:

(In thousands, except weighted-average information).
Operating Lease Amounts	December 31, 2019
Right-of-use assets	$	1,701
Lease liabilities	$	1,707

Other Information:
Operating outgoing cash flows from operating leases	$	155
Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,840
Weighted-average remaining lease term (Years)		7.62
Weighted-average discount rate		2.51	%

	Three months ended December 31,		Six months ended December 31,
(In thousands)
Lease Costs
Operating lease cost	$	70	$	142
Variable lease cost	$	10	$	20

The following is a schedule by year of the undiscounted cash flows of the operating lease liabilities, excluding common area maintenance charges and real estate taxes, as of December 31, 2019:

(in thousands)
Within the twelve months ended December 31,
2020	$	281
2021		283
2022		226
2023		208
2024		218
Thereafter		667
Total undiscounted cash flow		1,883
Less net present value adjustment		(176	)
Lease Liability	$	1,707

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 December 31, 2019.