Lease Commitment (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of supplemental lease information

Supplemental lease information at or for the three months ended March 31, 2020 is as follows:


	Dollars in Thousands
Balance Sheet
Operating Lease Amounts
Right-of-use asset classified as premises and equipment	$	4,308
Lease liability classified as other liabilities		4,609
Finance Lease Amounts
Right-of-use asset classified as premises and equipment	$	1,927
Lease liability classified as other liabilities		2,327

Income Statement
Operating lease cost classified as premises and equipment	$	234
Finance lease cost classified as borrowings		32

Weighted average lease term - Operating Leases (Yrs.)		8.25
Weighted average lease term - Finance Leases (Yrs.)		13.84
Weighted average discount rate - Operating Leases (1)		2.81	%
Weighted average discount rate - Finance Leases (1)		2.84	%
Operating outgoing cash flows from operating leases	$	222
Operating outgoing cash flows from finance leases	$	45

(1)

The discount rate was developed by using the fixed rate credit advance borrowing rate at the FHLB 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 March 31, 2020 was as follows:


	Dollars in Thousands
Operating Leases:
One year or less	$	748
One to three years		1,222
Three to five years		1,124
Over 5 years		2,206
Total undiscounted cash flows		5,300
Less: Discount		(691)
Lease Liabilities	$	4,609

Finance Leases:
One year or less	$	178
One to three years		357
Three to five years		387
Over 5 years		1,926
Total undiscounted cash flows		2,848
Less: Discount		(521)
Lease Liabilities	$	2,327