Leases (Tables)

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Components of Lease Expense

The components of lease expenses were as follows:

	Quarters Ended March 31,
(Dollars in thousands)	2020		2019
Operating lease expenses	$	748	$	819
Short-term lease expenses		2		3
Total lease expenses	$	750	$	822

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:

	Quarters Ended March 31,
(Dollars in thousands)	2020		2019
Cash paid for amounts included in the measurement of liabilities:
Operating leases	$	395	$	574
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases	$	—	$	14,897

Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases was as follows:

The table below presents the lease-related assets and liabilities recorded on the consolidated balance sheets.

(Dollars in thousands)	Classification on the consolidated balance sheets	March 31, 2020			December 31, 2019
Assets:
Operating lease assets	Other assets	$	22,071		$	22,761
Liabilities:
Operating lease liabilities	Other liabilities	$	23,345		$	23,539
Weighted-average remaining lease term:
Operating leases		9.5 years			10.2 years
Weighted-average discount rate:
Operating leases (1)			2.7	%		2.7	%

(1) Represents the Company’s incremental borrowing rate

Future Minimum Lease Payments Under Non-cancelable Operating Leases

At March 31, 2020, future minimum lease payments under non-cancelable operating leases were as follows:

(Dollars in thousands)
2020 (1)	$	1,579
2021		2,779
2022		2,659
2023		2,702
2024		2,746
Thereafter		14,142
Total future minimum lease payments	$	26,607
Less: amount representing interest		3,262
Present value of minimum lease payments	$	23,345

(1) Excludes the quarter ended March 31, 2020