The Company maintains certain property and equipment under direct financing and operating leases. As of March 31, 2022, the Company's operating lease ROU asset and operating lease liability totaled $14.7 million and $15.2 million, respectively. As of December 31, 2021, the Company's operating lease ROU asset and operating lease liability totaled $9.8 million and $10.1 million, respectively. A weighted average discount rate of 2.66 percent and 2.78 percent was used in the measurement of the ROU asset and lease liability as of March 31, 2022 and December 31, 2021, respectively.

The Company's leases have remaining lease terms between one month to 15 years, with a weighted average lease term of 7.69 years at March 31, 2022. The Company's leases had remaining lease terms between four months to 15 years, with a weighted average lease term of 6.09 years at December 31, 2021. The Company’s lease agreements may include options to extend or terminate the lease. The Company’s decision to exercise renewal options is based on an assessment of its current business needs and market factors at the time of the renewal.

Total operating lease costs were $868,000 and $701,000 for the three months ended March 31, 2022 and 2021, respectively. The variable lease costs were $77,000 and $84,000 for the three months ended March 31, 2022 and 2021, respectively.

The following is a schedule of the Company's operating lease liabilities by contractual maturity as of March 31, 2022:

(In thousands)
2022	$	1,995
2023		2,816
2024		2,299
2025		2,048
2026		1,487
Thereafter		6,194
Total lease payments		16,839
Less: imputed interest		1,684
Total present value of lease payments	$	15,155

The following table shows the supplemental cash flow information related to the Company’s direct finance and operating leases for the three months ended March 31, 2022 and 2021:

	For the Three Months Ended
(In thousands)	2022		2021
Right-of-use asset obtained in exchange for lease obligation	$	5,446	$	1,412
Operating cash flows from operating leases		665		619
Operating cash flows from direct finance leases		68		79
Financing cash flows from direct finance leases		187		187