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Leases (Tables)
3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
Schedule of Information about Leases

 


The following tables present information about the Company’s leases at the dates indicated:

 

(Dollars in thousands)

 

March 31, 2019

 

Lease liability

 

$

5,421

 

Right-of-use asset

 

$

5,447

 

Weighted average remaining lease term

 

9.44 years

 

Weighted average discount rate

 

 

3.54

%

 

 

 

Three Months Ended March 31,

 

(In thousands)

 

2019

 

 

2018

 

Lease Expense

 

 

 

 

 

 

 

 

Operating lease expense

 

$

211

 

 

NR*

 

Short-term lease expense

 

 

4

 

 

NR*

 

Total lease expense

 

$

215

 

 

$

169

 

 

 

 

 

 

 

 

 

 

Cash paid for amounts included in lease liabilities

 

$

207

 

 

NR*

 

 

*Not reportable

Maturity Schedule of Undiscounted Cash Flows Contribute to Lease Liability

 

The following table presents a maturity schedule of undiscounted cash flows that contribute to the lease liability:

 

(In thousands)

 

 

 

 

Undiscounted Cash Flow

 

March 31, 2019

 

Nine months ending December 31, 2019

 

$

437

 

Twelve months ending December 31, 2020

 

 

670

 

Twelve months ending December 31, 2021

 

 

682

 

Twelve months ending December 31, 2022

 

 

694

 

Twelve months ending December 31, 2023

 

 

707

 

Twelve months ending December 31, 2024

 

 

646

 

Thereafter

 

 

2,604

 

Total undiscounted cash flows

 

$

6,440

 

Less:  Discount

 

 

(1,019

)

Lease liability

 

$

5,421