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Leases (Tables)
6 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Schedule of Information about Leases

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

 

(Dollars in thousands)

 

June 30, 2020

 

Lease liability

 

$

4,823

 

Right-of-use asset

 

$

4,772

 

Weighted average remaining lease term

 

8.27 years

 

Weighted average discount rate

 

 

3.55

%

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In thousands)

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Lease Expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease expense

 

$

201

 

 

$

199

 

 

$

412

 

 

$

410

 

Short-term lease expense

 

 

4

 

 

 

3

 

 

 

9

 

 

 

6

 

Total lease expense

 

$

205

 

 

$

202

 

 

$

421

 

 

$

416

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash paid for amounts included in lease liabilities

 

$

167

 

 

$

161

 

 

$

389

 

 

368

 

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 at June 30, 2020:

 

(In thousands)

 

 

 

 

Undiscounted Cash Flow

 

June 30, 2020

 

Six months ending December 31, 2020

 

$

281

 

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

 

$

5,614

 

Less:  Discount

 

 

(791

)

Lease liability

 

$

4,823