Note 21 - Leases -

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

Note

2

1

–

Leases

–

The Bank leases certain branch offices through non-cancelable operating leases with terms that range from

one

to

ten

years and contain various renewal options for certain of the leases. Certain leases provide for increases in minimum monthly rental payments as defined by the lease agreement. Rental expense under these agreements was

$2.9

million,

$2.5

million and

$1.8

million for the years ended

December 31, 2019,

2018

and

2017,

respectively. At

December 31, 2019,

the Company had a weighted average lease term of

8.3

years and a weighted average discount rate of

3.10%.

Future minimum lease payments under these leases are as follows:

December 31,
	(Dollars in thousands)
2020	$	2,200
2021		1,990
2022		1,809
2023		1,701
2024 and Thereafter		7,341
Total Future Minimum Lease Payments		15,041
Less Imputed Interest		(1,799	)
Present Value of Lease Liabilities	$	13,242