LEASES (Tables)

9 Months Ended

Sep. 30, 2020

LEASES [Abstract]

Maturities of Remaining Lease Liabilities

The table below summarizes the maturity of remaining lease liabilities at September 30, 2020:

(in thousands)	September 30, 2020
2020	$	301
2021		1,229
2022		1,140
2023		1,006
2024		899
2025 and thereafter		3,080
Total lease payments		7,655
Less: interest		(666	)
Present value of lease liabilities	$	6,989

Supplemental Cash Flow Information Related to Leases

The following table presents supplemental cash flow information related to leases for the three and nine months ended September 30, 2020:

	Three months ended September 30,				Nine months ended September 30,
(in thousands)	2020		2019		2020		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	302	$	219	$	851	$	653
Right-of-use assets obtained in exchange for new operating lease liabilities		—		3,410		221		7,827

Weighted Average Operating Lease Term and Discount Rate

The following table presents the weighted average operating lease term and discount rate at September 30, 2020 and December 31, 2019:

	September 30, 2020			December 31, 2019
Weighted-average remaining lease term – operating leases, in years	$	7.32		$	8.01
Weighted-average discount rate – operating leases	$	2.45	%	$	2.52	%