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Leases (Tables)
6 Months Ended
Jun. 30, 2021
Leases [Abstract]  
Summary of Components of Operating Lease Cost and Other Related Information

The components of operating lease cost and other related information are as follows:

 

 

Three Months Ended June 30,

 

 

 

2021

 

 

2020

 

 

 

(dollars in thousands)

 

Operating lease cost

 

$

1,731

 

 

$

1,598

 

Variable lease cost (Cost excluded from lease payments)

 

 

3

 

 

 

1

 

Sublease income

 

 

(17

)

 

 

(16

)

Total Operating Lease Cost

 

$

1,717

 

 

$

1,583

 

Other Information

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities - operating cash flows for operating leases

 

$

1,780

 

 

$

1,560

 

Operating Lease - Operating cash flows (Liability reduction)

 

 

1,527

 

 

 

1,278

 

Weighted average lease term - operating leases

 

6.56 Years

 

 

7.26 Years

 

Weighted average discount rate - operating leases

 

 

2.93

%

 

 

2.95

%

 

 

 

For the Six Months Ended June 30,

 

 

 

2021

 

 

2020

 

 

 

(dollars in thousands)

 

Operating lease cost

 

$

3,499

 

 

$

2,995

 

Variable lease cost (Cost excluded from lease payments)

 

 

6

 

 

 

1

 

Sublease income

 

 

(33

)

 

 

(33

)

Total operating lease cost

 

$

3,472

 

 

$

2,963

 

Other Information

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities - operating cash flows for operating leases

 

$

3,634

 

 

$

2,924

 

Operating Lease - Operating cash flows (Liability reduction)

 

 

3,125

 

 

 

2,360

 

Weighted average lease term - operating leases

 

6.56 Years

 

 

7.26 years

 

Weighted average discount rate - operating leases

 

 

2.93

%

 

 

2.95

%

 

Schedule of Total Minimum Lease Payments Due in Future Periods for Lease Agreements

The total minimum lease payments due in future periods for lease agreements in effect at June 30, 2021 were as follows:

 

 

Future Minimum

 

June 30, 2021

 

Lease Payments

 

 

 

(dollars in thousands)

 

Remainder of 2021

 

$

7,110

 

2022

 

 

6,908

 

2023

 

 

6,443

 

2024

 

 

5,127

 

2025

 

 

4,469

 

Thereafter

 

 

9,663

 

Total minimum lease payments

 

$

39,720

 

Less: interest

 

 

(3,797

)

Total lease liability

 

$

35,923