Lease Commitments

12 Months Ended

Dec. 31, 2021

Lease Commitments

Lease Commitments

Note 11. Lease Commitments

The following tables present information about the Company’s leases (dollars in thousands):

	For the years ended December 31,
	2021			2020
Lease liabilities	$	801		$	930
Right-of-use assets	$	787		$	916
Weighted average remaining lease term		5.57			5.05
Weighted average discount rate		1.94	%		2.39	%

	For the years ended December 31,
	2021		2020
Lease cost
Operating lease cost	$	358	$	427
Total lease cost	$	358	$	427

A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total of operating lease liabilities is as follows (dollars in thousands):

	As of
	December 31, 2021
Lease payments due
Twelve months ending December 31, 2022	$	193
Twelve months ending December 31, 2023		144
Twelve months ending December 31, 2024		144
Twelve months ending December 31, 2025		134
Twelve months ending December 31, 2026		82
Thereafter		139
Total undiscounted cash flows	$	836
Discount		35
Lease liabilities	$	801

Cash paid for amounts included in the measurement of lease liabilities for the year ended December 31, 2021 and 2020 was $367,000 and $378,000, respectively. The Company recognized lease expense of $358,000 and $427,000 for each of the years ended December 31, 2021 and 2020, respectively.