Leases

3 Months Ended

Mar. 31, 2019

The following table shows finance lease right of use assets and finance lease liabilities as of March 31, 2019:



(In Thousands)	Statement of Financial Condition classification	March 31, 2019
Finance lease right of use assets	Premises and equipment, net	$	5,960
Finance lease liabilities	Long-term borrowings	$	6,006

The following table shows the components of finance and operating lease expense for the three months ended March 31, 2019:



	Three Months Ended March 31,
(In Thousands)	2019

Finance Lease Cost:
Amortization of right-of-use asset	$	65
Interest expense	56
Operating lease cost	88
Variable lease cost	1
Total Lease Cost	$	210

Gross rental expense for the three months ended March 31, 2018 was $130,000.

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



(In Thousands)	Operating			Finance
2019	$	274		$	243
2020	370			318
2021	378			320
2022	385			321
2023	360			322
2024 and thereafter	3,969			8,494
Total undiscounted cash flows	5,736			10,018
Discount on cash flows	(1,495		)	(4,012		)
Total lease liability	$	4,241		$	6,006

The following table shows the weighted average remaining lease term and weighted average discount rate for both operating and finance leases outstanding as of March 31, 2019.

Leases

The following table shows finance lease right of use assets and finance lease liabilities as of March 31, 2019:



(In Thousands)	Statement of Financial Condition classification	March 31, 2019
Finance lease right of use assets	Premises and equipment, net	$	5,960
Finance lease liabilities	Long-term borrowings	$	6,006

The following table shows the components of finance and operating lease expense for the three months ended March 31, 2019:



	Three Months Ended March 31,
(In Thousands)	2019

Finance Lease Cost:
Amortization of right-of-use asset	$	65
Interest expense	56
Operating lease cost	88
Variable lease cost	1
Total Lease Cost	$	210

Gross rental expense for the three months ended March 31, 2018 was $130,000.

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



(In Thousands)	Operating			Finance
2019	$	274		$	243
2020	370			318
2021	378			320
2022	385			321
2023	360			322
2024 and thereafter	3,969			8,494
Total undiscounted cash flows	5,736			10,018
Discount on cash flows	(1,495		)	(4,012		)
Total lease liability	$	4,241		$	6,006

The following table shows the weighted average remaining lease term and weighted average discount rate for both operating and finance leases outstanding as of March 31, 2019.

Weighted-average term (years)

Weighted-average discount rate