The Company recognized ROUs and operating lease liabilities totaling $1.8 million at March 31, 2022 and December 31, 2021, respectively. The ROU is recognized in other assets on the Company’s Consolidated Balance Sheet and operating lease liabilities are recognized in other liabilities on the Company’s Consolidated Balance Sheet. At March 31, 2022, the Company had entered in 9 noncancelable operating lease agreements for office space and branch locations, several of which contain renewal options to extend lease payments for a period of 1 to 10 years. The Company had no financing leases outstanding and no leases with residual value guarantees.

The Company’s operating lease cost was $170,000 and $245,000 for the three months ended March 31, 2022 and 2021, respectively. The weighted average remaining lease term for operating leases was 4.4 years and 4.5 years at March 31, 2022 and December 31, 2021, respectively, and the weighted average discount rate used in the measurement of operating lease liabilities was 1.95% and 1.99% at March 31, 2022 and December 31, 2021, respectively.

The following table sets forth the undiscounted cash flows of base rent related to operating leases at March 31, 2022 with payments scheduled over the next five years and thereafter, including a reconciliation to the operating lease liability.

	March 31, 2022
	(In thousands)
2022	$	514
2023		486
2024		344
2025		256
2026		226
2027		96
Thereafter		—
Total minimum lease payments		1,922
Less: amount representing interest		(80	)
Present value of future minimum lease payments		1,842