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Leases
12 Months Ended
Dec. 31, 2019
Leases  
Leases

(26)Leases

 

The table below presents lease costs and other information as of December 31, 2019:

 

 

 

 

 

 

(Dollars in thousands)

 

December 31, 2019

 

Lease Costs:

 

 

 

 

 Operating lease costs

 

$

3,130

 

 Short-term lease costs

 

 

57

 

 Variable lease costs

 

 

129

 

     Total lease costs

 

$

3,316

 

 

 

 

 

 

Cash paid for amounts included in measurement of lease liabilities

 

$

2,991

 

ROU assets obtained in exchange for new operating lease liabilities

 

$

14,341

 

 

Total rental expense comprised minimum rentals of $3.1 million for the year ended December 31, 2018.

 

At December 31, 2019, future minimum rental commitments under noncancellable operating leases are as follows:

 

 

 

 

 

(Dollars in thousands)

    

 

 

 

2020

 

$

3,171

 

2021

 

 

2,632

 

2022

 

 

2,374

 

2023

 

 

2,088

 

2024

 

 

1,801

 

Thereafter

 

 

3,112

 

Total

 

 

15,178

 

Less present value discount

 

 

2,995

 

Present value of leases

 

$

12,183

 

 

The table below presents other lease related information as of December 31, 2019:

 

 

 

 

 

 

 

 

December 31,

 

 

    

2019

    

Weighted-average remaining lease term (years)

 

 

5.99

 

Weighted-average discount rate

 

 

2.76

%

 

The Company leases to a tenant certain property that it owns.  Future minimum rental income for this noncancellable leae is as follows:

 

 

 

 

 

 

(Dollars in thousands)

    

 

 

 

2020

 

$

110

 

2021

 

 

110

 

2022

 

 

 —

 

2023

 

 

 —

 

2024

 

 

 —

 

Thereafter

 

 

 —

 

Total

 

$

220

 

 

Rental income comprised of minimum rentals for 2019 and 2018 was approximately $110,000 each year.