Leases (Tables)

9 Months Ended

Sep. 30, 2020

Leases

Schedule of lease costs and other lease information

The following tables represents lease costs and other lease information for the periods presented (dollars in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
Lease Costs	2020		2019			2020	2019
Operating lease costs	$	622	$	619	$	1,877	$	1,736
Variable lease costs		99		133		401		363
Short-term lease costs		15		46		45		69
Sublease income		-		-		-		-
Net lease cost	$	736	$	798	$	2,323	$	2,168
Other information
Cash paid for amounts included in the measurement of lease liabilities:
Operating lease cash flows – Fixed payments	$	616	$	605	$	1,839	$	1,688
Operating lease cash flows – Liability reduction		546		526		1,610		1,479
Right of use assets obtained during the period in exchange for operating lease liabilities		—		159		128		923
Weighted average lease term (in years)		6.43		6.73		6.43		6.73
Weighted average discount rate		3.08%		3.04%		3.08%		3.04%

Schedule of future rent commitments

Rent commitments were as follows (dollars in thousands):

		As of
		September 30, 2020
Remainder of 2020	$	542
2021		1,693
2022		1,288
2023		1,129
2024		894
Thereafter		2,647
Amounts representing interest		(851)
Present value of net future minimum lease payments	$	7,342