Premises and Equipment

6 Months Ended

Jun. 30, 2019

Lessee Disclosure [Abstract]

Premises and Equipment

Note 9. Premises and Equipment

The Company leases certain premises and equipment under operating leases. At June 30, 2019, the Company had lease liabilities totaling $17.8 million and right-of-use assets totaling $16.4 million. As of June 30, 2019, the weighted average remaining lease term for operating leases was 7.4 years and the weighted average discount rate used in the measurement of operating lease liabilities was 3.0%. Total lease costs for the three and six months ended June 30, 2019 was $0.8 million and $1.6 million, respectively.

Rent expense for the three and six months ended June 30, 2018 prior to adoption of ASU 2016-02, was $0.5 million and $1.0 million, respectively.

There were no sale and leaseback transactions, leveraged leases or lease transactions with related parties during the six months ended June 30, 2019.

A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows:

	June 30, 2019
	(dollars in thousands)
Lease payments due:
Less than 1 year	$	2,704
1 year through less than 2 years		2,497
2 years through less than 3 years		2,418
3 years through less than 4 years		2,372
4 years through 5 years		2,093
After 5 years		7,965
Total undiscounted cash flows		20,049
Discounted cash flows		(2,262	)
Total lease liability	$	17,787