COMMITMENTS & CONTINGENCIES (Tables)

3 Months Ended

Mar. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of maturities of operating lease liabilities

The table below details the Right of Use asset (net of accumulated amortization), lease liability and other information related to the Company's operating leases:

(dollars in thousands)	March 31, 2021		December 31, 2020
Operating Leases
Operating lease right of use asset, net	$	6,391	$	7,831
Operating lease liability	$	6,614	$	8,088
Weighted average remaining lease term	17.43 years		18.21 years
Weighted average discount rate	3.49 %		3.52		%
Remaining lease term - min	0.0 years		0.7 years
Remaining lease term - max	24.0 years		24.0 years

During the quarter ended March 31, 2021, the Bank purchased the land under one of its existing branch locations and simultaneously terminated the associated land lease. Accordingly, the remaining unamortized right-of-use asset and the corresponding liability of approximately $1.4 million each were reduced to zero.

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

(dollars in thousands)	As of March 31, 2021
Lease payments due:
Within one year	$	572
After one but within two years	532
After two but within three years	539
After three but within four years	547
After four but within five years	588
After five years	6,272
Total undiscounted cash flows	$	9,050
Discount on cash flows	2,436
Total lease liability	$	6,614

Lease, Cost

The table below details the Company's lease cost, which is included in occupancy expense in the Unaudited Consolidated Statements of Income.

	Three Months Ended March 31,
(dollars in thousands)	2021		2020
Operating lease cost	$	197	$	198
Cash paid for lease liability	$	1,545	$	172