Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Lease, Cost

The following table shows the components of lease expense.

(in thousands)	Three Months Ended				Six Months Ended
	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
Operating lease cost	$	251	$	187	$	466	$	368

Lessee, Supplemental Cash Flow

The following table shows supplemental cash flow information related to leases.

(in thousands)	Six Months Ended
	June 30, 2020		June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	497	$	394

Lessee, Supplemental Balance Sheet

The following table shows the operating leases’ impact on the condensed consolidated balance sheets. The Company elected not to include short-term leases (leases with original terms of 12 months or less) or equipment leases, as those amounts are insignificant. The Company’s leases do not provide an implicit rate. The discount rate utilized to determine the present value of lease payments is the Company’s incremental borrowing rate based on the information available at the lease inception date. The incremental borrowing rate is the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar term in an amount equal to the lease payments in a similar economic environment.

(dollars in thousands)
	June 30, 2020			December 31, 2019
Operating lease right-of-use assets	$	1,242		$	1,602
Operating lease liabilities	1,242			1,602
Weighted-average remaining lease term (years)
Operating leases	2.1			2.4
Weighted-average discount rate
Operating leases	2.0		%	2.0		%

Lessee, Operating Lease, Liability, Maturity

The following table shows the future minimum payments of operating leases with initial or remaining terms of one year or more as of June 30, 2020.

(in thousands)
Twelve months ended June 30,
2021	$	691
2022	290
2023	232
2024	—
2025	—
Thereafter	—
Total lease payments	1,213
Less: imputed interest	(30)
Total	$	1,183