Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Components of Lease Expense

The components of lease expense were as follows:

(Dollars in thousands)	Quarter Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease expense	$	819	$	2,460
Short-term lease expense		2		7
Total lease expense	$	821	$	2,467

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:

(Dollars in thousands)	Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of liabilities:
Operating leases	$	1,804
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	14,163

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:

The table below presents the lease-related assets and liabilities recorded on the consolidated balance sheets.

(Dollars in thousands)	Classification on the consolidated balance sheets	September 30, 2019
Assets:
Operating lease assets	Other assets	$	23,360
Liabilities:
Operating lease liabilities	Other liabilities	$	24,121
Weighted-average remaining lease term
Operating leases		9.9 years
Weighted-average discount rate
Operating leases (1)			2.7	%

(1) Represents the Company’s incremental borrowing rate

Future Minimum Cash Payments Under Non-cancelable Operating Leases

At September 30, 2019, future minimum lease payments under non-cancelable operating leases were as follows:

(Dollars in thousands)
2019  (1)	$	731
2020		1,942
2021		2,779
2022		2,659
2023		2,702
Thereafter		16,888
Total future minimum lease payments	$	27,701
Less: amount representing interest		3,580
Present value of minimum lease payments	$	24,121

(1) Excludes the nine months ended September 30, 2019