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Leases (Tables)
9 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Summary of Lease, Cost

The table below summarized the Company’s total lease cost:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

(Dollars in thousands)

 

September 30, 2019

 

 

September 30, 2019

 

Operating lease cost

 

$

444

 

 

$

1,287

 

Variable lease cost

 

 

211

 

 

 

548

 

Total lease cost

 

$

655

 

 

$

1,835

 

Summary of Other Information Related to Operating Leases

 

The table below summarizes other information related to the Company’s operating leases:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

(Dollars in thousands)

 

September 30, 2019

 

 

September 30, 2019

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

493

 

 

$

1,408

 

Weighted average remaining lease term - operating leases

 

 

 

 

 

6.0 years

 

Weighted average discount rate - operating leases

 

 

 

 

 

 

2.98

%

Summary of Remaining Contractually Obligated Lease Payments and Reconciliation to Lease liability The table below summarizes the remaining contractually obligated lease payments and a reconciliation to the lease liability reported on the consolidated balance sheet as of September 30, 2019:

 

(Dollars in thousands)

 

September 30, 2019

 

2019 remaining

 

$

301

 

2020

 

 

2,002

 

2021

 

 

2,032

 

2022

 

 

2,028

 

2023

 

 

1,816

 

Thereafter

 

 

3,343

 

Total lease payments

 

 

11,522

 

Discount to present value

 

 

(1,187

)

Total lease liability

 

$

10,335

 

 

Summary of Rent Commitments Related to Lease

Rent commitments related to the lease of the Company’s main office and branch facilities, before considering renewal options and additional lessor charges as of December 31, 2018, were as follows:

 

(Dollars in thousands)

 

December 31, 2018

 

2019

 

$

1,709

 

2020

 

 

1,757

 

2021

 

 

1,742

 

2022

 

 

1,685

 

2023

 

 

1,455

 

Thereafter

 

 

2,669

 

Total

 

$

11,017