Note 21 - Leases -

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

Note 21 – 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 $2.8 million, $2.6 million and $2.9 million for the years ended December 31, 2021, 2020 and 2019, respectively. The Company had a weighted average lease term of 7.2 years and 7.8 years and a weighted average discount rate of 2.64% and 2.89% as of December 31, 2021 and 2020, respectively.

Future minimum lease payments under these leases are as follows:

December 31,
	(Dollars in thousands)
2022	$	2,587
2023		2,413
2024		2,109
2025		1,990
2026		1,849
2026 and Thereafter		4,748
Total Future Minimum Lease Payments		15,696
Less Imputed Interest		(1,392	)
Present Value of Lease Liabilities	$	14,304