Lease Commitment (Tables)

3 Months Ended

Mar. 31, 2022

Lease Commitments

Schedule of supplemental lease information

The following tables present information about the Company’s leases for the periods ended:

Dollars in Thousands	March 31, 2022			December 31, 2021
Balance Sheet
Operating Lease Amounts
Right-of-use asset	$	5,770		$	6,009
Lease liability		6,166			6,372
Finance Lease Amounts
Right-of-use asset	$	1,653		$	1,687
Lease liability		2,096			2,125
Supplemental balance sheet information
Weighted average lease term - Operating Leases (Yrs.)		7.80			7.99
Weighted average lease term - Finance Leases (Yrs.)		11.84			12.09
Weighted average discount rate - Operating Leases (1)		2.26	%		2.24	%
Weighted average discount rate - Finance Leases (1)		2.84	%		2.84	%
Income Statement
Three Months Ended	March 31, 2022			March 31, 2021
Operating lease cost classified as premises and equipment	$	286		$	213
Finance lease cost classified as interest on borrowings		15			16
Operating outgoing cash flows from operating leases	$	241		$	186
Operating outgoing cash flows from finance leases	$	45		$	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 minimum operating lease payments

	Dollars in Thousands
Operating Leases:
One year or less	$	1,050
One to three years		1,605
Three to five years		1,119
Over 5 years		3,172
Total undiscounted cash flows		6,946
Less: Discount		(780)
Lease Liabilities	$	6,166
Finance Leases:
One year or less	$	178
One to three years		387
Three to five years		407
Over 5 years		1,519
Total undiscounted cash flows		2,491
Less: Discount		(395)
Lease Liabilities	$	2,096

Schedule of minimum finance lease payments

	Dollars in Thousands
Operating Leases:
One year or less	$	1,050
One to three years		1,605
Three to five years		1,119
Over 5 years		3,172
Total undiscounted cash flows		6,946
Less: Discount		(780)
Lease Liabilities	$	6,166
Finance Leases:
One year or less	$	178
One to three years		387
Three to five years		407
Over 5 years		1,519
Total undiscounted cash flows		2,491
Less: Discount		(395)
Lease Liabilities	$	2,096