Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Summary of Minimum Annual Lease Payments under Lease Terms

The following table presents the minimum annual lease payments under the terms of these leases, inclusive of renewal options that the Company is reasonably certain to renew, at June 30, 2020:

	June 30,
(dollars in thousands)	2020
July 1, 2020 to December 31, 2020	$	634
2021		1,254
2022		1,258
2023		1,269
2024		864
2025 and thereafter		3,922
Total lease payments		9,201
Less:  amounts representing interest		1,370
Present value of lease liabilities	$	7,831

Summary of Components of Total Lease Expense and Operating Cash Flows

The following table presents the components of total lease expense and operating cash flows for the six months ended June 30, 2020:

	June 30,
(dollars in thousands)	2020
Lease expense:
Operating lease expense	$	662
Variable lease expense		72
Total lease expense (1)	$	734
Cash paid:
Cash paid reducing operating lease liabilities	$	722
(1) Included in net occupancy expense in the Condensed Consolidated Statements of Income (Unaudited).