Leases

The Company leases certain land, premises and equipment from third parties. Effective January 1, 2019, ROU assets for operating and finance leases are included in net premises and equipment and lease liabilities are included in other liabilities and other borrowed funds, respectively, on the Company’s statements of financial condition. The following table summarizes the Company’s leases:



	March 31, 2019
(Dollars in thousands)	Finance Leases			Operating Leases
ROU assets	$	951
Accumulated depreciation	(832		)
Net ROU assets	$	119		36,247
Lease liabilities	$	163		38,389
Weighted-average remaining lease term	2 years			19 years
Weighted-average discount rate	5.3		%	3.7	%

Maturities of lease liabilities consist of the following:



	March 31, 2019
(Dollars in thousands)	Finance Leases		Operating Leases
Maturing within one year	$	92	3,286
Maturing one year through two years	77		3,238
Maturing two years through three years	1		3,032
Maturing three years through four years	1		2,832
Maturing four years through five years	—		2,716
Thereafter	—		39,839
Total lease payments	171		54,943
Present value of lease payments
Short-term	86		1,920
Long-term	77		36,469
Total present value of lease payments	163		38,389
Difference between lease payments and present value of lease payments	$	8	16,554

The components of lease expense consist of the following:



	Three Months ended
(Dollars in thousands)	March 31, 2019
Finance lease cost
Amortization of ROU assets	$	16
Interest on lease liabilities	2
Operating lease cost	913
Short-term lease cost	109
Variable lease cost	199
Sublease income	(2		)
Total lease expense	$	1,237

Supplemental cash flow information related to leases is as follows:



	Three Months ended
	March 31, 2019
(Dollars in thousands)	Finance Leases		Operating Leases
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows	$	2	479
Financing cash flows	21		N/A

The Company also leases office space to third parties through operating leases. Rent income from these leases for the three months ended March 31, 2019 was not significant.