Leases (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Supplemental Balance Sheet Information Related to Leases

	As of December 31,
	2020			2019
Assets
Lease right-of-use assets		$	2,290,000		$	3,951,000
Liabilities
Lease liabilities		$	2,612,000		$	4,409,000

Schedule of Additional Information Related to Leases

	As of December 31,
	2020			2019
Weighted average remaining lease term – operating leases (in years)		2.2			2.7
Weighted average discount rate – operating leases		5.0	%		5.0	%

Schedule of Lease Costs and Other Lease Information

The following table represents lease costs and other lease information. The Company has elected the package of practical expedients and as a result, expired leases and classification of leases per ASC 840 were not assessed as of the transition date. In addition, the Company has elected the practical expedient to not separate lease and non-lease components, and as such, the variable lease cost primarily represents variable payments such as common area maintenance and utilities which are usually determined by the leased square footage in proportion to the overall office building.

	Year Ended December 31,
	2020		2019
Operating lease cost	$	2,314,000	$	1,764,000
Short-term lease cost		102,000		446,000
Variable lease cost		351,000		360,000
Sublease income		—		—
Total Rent and occupancy	$	2,767,000	$	2,570,000

Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	2,457,000	$	1,876,000

Lease right-of-use assets obtained in exchange for new lease liabilities
Operating leases	$	2,353,000	$	5,732,000

Schedule of Maturities of Lease Liabilities

Future annual minimum payments for operating leases with initial terms of greater than one year as of December 31, 2020 were as follows:

Year	Amount
2021	$	1,405,000
2022		756,000
2023		543,000
2024		56,000
Remaining balance of lease payments		2,760,000
Less difference between undiscounted cash flows and discounted cash flows		146,000
Lease liabilities	$	2,614,000