LEASES (Tables)

9 Months Ended

Sep. 30, 2021

LEASES

Lease Balance Sheet Location

The Company elected to not include short-term leases with initial terms of twelve months or less, on the Condensed Consolidated Balance Sheets, (in thousands).

		September 30,		December 31,
		2021		2020
Lease Right-of-Use Assets	Classification
Operating lease right-of-use assets	Other assets	$	11,450	$	11,341
Lease Liabilities	Classification
Operating lease liabilities	Other liabilities	$	14,608	$	13,970

Schedule Of Weighted Average Lease Term And Discount Rate

	September 30,		December 31,
	2021		2020
Weighted-Average Remaining Lease Term
Operating leases	5.42	years	4.79	years
Weighted-Average Discount Rate
Operating leases	2.69	%	3.04	%

Lease Costs

The following table represents the Company’s net lease costs, (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Lease Costs
Operating lease cost	$	781	$	786	$	2,264	$	2,401
Variable lease cost		488		557		1,316		1,516
Sublease income		—		(33)		—		(232)
Lease costs, net	$	1,269	$	1,310	$	3,580	$	3,685

Schedule of Minimum Lease Payments Due

The following table presents a maturity analysis of the Company’s operating lease liabilities on an annual basis for each of the next five years and total amounts thereafter as of September 30, 2021(in thousands):

Year Ending December 31,	Operating Leases
2021(1)	$	850
2022		3,450
2023		3,210
2024		3,064
2025		2,073
Thereafter		2,871
Total future minimum lease payments		15,518
Less: imputed interest		(910)
Present value of net future minimum lease payments	$	14,608

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⁽¹⁾ Amount represents the remaining three months of year.