Leases

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Leases

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:

	June 30, 2019
(Dollars in thousands)	Finance Leases			Operating Leases
ROU assets	$	951
Accumulated depreciation	(848		)
Net ROU assets	$	103		41,342
Lease liabilities	$	142		43,596
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:

	June 30, 2019
(Dollars in thousands)	Finance Leases		Operating Leases
Maturing within one year	$	92	3,626
Maturing one year through two years	54		3,527
Maturing two years through three years	1		3,322
Maturing three years through four years	1		3,079
Maturing four years through five years	—		3,018
Thereafter	—		46,619
Total lease payments	148		63,191
Present value of lease payments
Short-term	87		2,073
Long-term	55		41,523
Total present value of lease payments	142		43,596
Difference between lease payments and present value of lease payments	$	6	19,595

The components of lease expense consist of the following:

	Three Months ended			Six Months ended
(Dollars in thousands)	June 30, 2019			June 30, 2019
Finance lease cost
Amortization of ROU assets	$	16		32
Interest on lease liabilities	2			4
Operating lease cost	997			1,910
Short-term lease cost	119			228
Variable lease cost	222			421
Sublease income	(1		)	(3	)
Total lease expense	$	1,355		2,592

Supplemental cash flow information related to leases is as follows:

	Three Months ended			Six Months ended
	June 30, 2019			June 30, 2019
(Dollars in thousands)	Finance Leases		Operating Leases	Finance Leases	Operating Leases
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows	$	2	497	4	976
Financing cash flows	21		N/A	42	N/A

The Company also leases office space to third parties through operating leases. Rent income from these leases for the three and six months ended June 30, 2019 was not significant.