Lease Commitment (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of supplemental lease information

Supplemental lease information at or for the nine months ended September 30, 2019 is as follows:


Balance Sheet	Dollars in Thousands

Right-of-use asset classified as premises and equipment	$	3,274
Lease liability classified as other liabilities		3,314

Income Statement

Operating lease cost classified as premises and equipment	$	364

Weighted average lease term, in years		7.55
Weighted average discount rate (1)		3.28	%
Operating cash flows	$	376

(1)

The discount rate was developed by using the fixed rate credit advance borrowing rate at the Federal Home Loan Bank of Atlanta for a term correlating to the remaining life of each lease. Management believes this rate closely mirrors its incremental borrowing rate for similar terms.

Schedule of maturities of lease liabilities

(1)

A maturity analysis of the Company's lease liabilities at September 30, 2019 was as follows:


	Dollars in Thousands
One year or less	$	468
One to three years		772
Three to five years		714
Over 5 years		2,002
Total lease payments		3,956
Less: Interest		(642)
Present value of lease liabilities	$	3,314