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OPERATING LEASES (Tables)
6 Months Ended
Jun. 30, 2020
OPERATING LEASES  
Schedule of components of lease cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

(Dollars in thousands)

 

2020

    

2019

 

2020

    

2019

Operating lease cost

 

$

540

 

$

574

 

$

1,091

 

$

1,064

Variable lease cost

 

 

47

 

 

47

 

 

95

 

 

95

Short-term lease cost

 

 

 —

 

 

 —

 

 

 —

 

 

 —

Sublease income

 

 

 —

 

 

 —

 

 

 —

 

 

 —

Total net lease cost

 

$

587

 

$

621

 

$

1,186

 

$

1,159

 

Schedule of Future maturities of the Company’s operating lease liabilities

 

 

 

 

(Dollars in thousands)

 

    

 

Twelve Months Ended:

    

Lease Liability

June 30, 2021

 

$

1,994

June 30, 2022

 

 

1,897

June 30, 2023

 

 

1,953

June 30, 2024

 

 

1,863

June 30, 2025

 

 

1,727

After June 30, 2025

 

 

3,684

Total lease payments

 

 

13,118

Less: interest discount

 

 

(1,349)

Present value of lease liabilities

 

$

11,769

 

Schedule Of Supplemental Lease Information

 

 

 

 

 

 

 

 

Supplemental Lease Information

    

June 30, 2020

 

Weighted-average remaining lease term (years)

 

6.9

 

Weighted-average discount rate

 

3.13

%

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

(Dollars in thousands)

    

2020

    

2019

Cash paid for amounts included in the measurement of lease liabilities:

 

 

  

 

 

  

Operating cash flows from operating leases (cash payments)

 

$

1,017

 

$

967

Operating cash flows from operating leases (lease liability reduction)

 

$

830

 

$

761

Operating lease right-of-use assets obtained in exchange for leases entered into during the period

 

$

131

 

$

13,610