LEASES (Tables)

9 Months Ended

Sep. 30, 2020

LEASES

Schedule of right-of-use assets and lease liabilities relating to the Company's operating and finance leases

The following table details balance sheet information, as well as weighted-average lease terms and discount rates, related to leases at September 30, 2020 and December 31, 2019 ($ in thousands).

	September 30, 2020			December 31, 2019
Right-of-use assets:
Operating leases	$	6,427		$	6,518
Finance leases, net of accumulated depreciation		2,719			—
Total right-of-use assets	$	9,146		$	6,518
Lease liabilities:
Operating lease	$	6,427		$	6,518
Finance lease		2,327			—
Total lease liabilities	$	8,754		$	6,518
Weighted average remaining lease term
Operating leases		4.6	years		6.2	years
Finance leases		11.2	years		—
Weighted average discount rate
Operating leases		2.3	%		3.1	%
Finance leases		2.3	%		—

Schedule of lease costs

The table below summarizes our net lease costs ($ in thousands):

	Three months ended				Nine months ended
	September 30,				September 30,
	2020		2019		2020		2019
Operating lease cost	$	431	$	231	$	1,252	$	581
Finance lease cost:
Interest on lease liabilities		2		—		6		—
Amortization of right-of-use		61		—		122		—
Net lease cost	$	494	$	231	$	1,380	$	581

Schedule of minimum future lease payments

The table below summarizes the maturity of remaining lease liabilities at September 30, 2020 and December 31, 2019 ($ in thousands):

	September 30, 2020
	Operating Leases		Finance Leases
Remaining 2020	$	434	$	48
2021		1,741		193
2022		1,574		220
2023		1,058		220
2024		846		220
Thereafter		1,143		1,680
Total lease payments	$	6,796	$	2,581
Less: Interest		(369)		(254)
Present value of lease liabilities	$	6,427	$	2,327

	December 31, 2019
	Operating Leases		Finance Leases
2020	$	1,643	—
2021		1,527	—
2022		1,359	—
2023		844	—
2024		631	—
Thereafter		981	—
Total lease payments	$	6,985	—
Less: Interest		(467)	—
Present value of lease liabilities	$	6,518	—