RIGHT OF USE ASSET AND LEASE LIABILITY (Tables)

12 Months Ended

Dec. 31, 2019

RIGHT OF USE ASSET AND LEASE LIABILITY

Lease Cost

The following table presents the components of the Company’s lease costs for operating leases as the lessee, which is included in net occupancy expense on the consolidated statements of income (in thousands):

	Year Ended
	December 31, 2019
Operating lease expense	$	639
Short term lease expense		445
Total lease expense	$	1,084

Supplemental cash flow information related to operating leases was as follows (in thousands):

	Year Ended
	December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities	$	626
ROU assets obtained in exchange for lease obligations	$	613

Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases was as follows (in thousands, except for weighted-averages):

Operating Leases	Classification	December 31, 2019
ROU assets	Right of use asset, net	$	4,644
Lease liabilities	Lease liability	$	4,727
Weighted-average remaining lease term			10.2
Weighted-average discount rate			3.09	%

Maturities of Lease Liabilities

Lease payment obligations for each of the next five years and thereafter with a reconciliation to the Corporation's lease liability were as follows (in thousands):

Year	Operating Leases
2020	$	654
2021		548
2022		569
2023		571
2024		574
Thereafter		2,671
Total lease payments		5,587
Less imputed interest		(860)
Total	$	4,727