Prior to 2018, the Company was party to four long-term leases for retail branches and a lease for its headquarters office. In 2018, the Company entered into six additional long-term real estate leases as follows: (1) two additional office suites at the Company’s headquarters in Richmond, Virginia; (2) an office for the Company’s information technology department also in Richmond; (3) a retail branch location in Virginia Beach, Virginia; (4) a loan production office in Virginia Beach, Virginia; and (5) office space for the Financial Group in Richmond, Virginia. In February 2019, the Company entered into a new lease for an existing retail branch in Richmond, Virginia.

The following table presents future minimum lease payments required under the long-term non-cancelable lease agreements for the periods stated. All leases, with the exception of the new lease for the Financial Group and the retail branch in Richmond, were accounted for as operating leases under ASC 840, Leases, during the year ended December 31, 2018.

2019	$	748
2020		696
2021		751
2022		590
2023		351
Thereafter		2,053
Total future minimum lease payments	$	5,189

Lease expense for the years ended December 31, 2018 and 2017 was $577 thousand and $377 thousand, respectively.