Leases

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Leases

Leases:

The Company has operating leases for branch office locations, vehicles and certain office equipment such as printers, copiers and faxes. The leases have remaining lease terms of 3 months to 10.75 years, some of which include options to extend the lease for up to 10 years and some of which include options to terminate the leases within 3 months.

The right of use asset and lease liability as of September 30, 2019 was $3.3 million.

Lease payments made for the three and nine month period ended September 30, 2019 were $146 thousand and $438 thousand, respectively. Interest expense and amortization expense on finance leases for the three month period ended September 30, 2019 was $25 thousand and $89 thousand, and $78 thousand and $266 thousand for the nine month period ended September 30, 2019.  The weighted-average remaining lease term for all leases was 6.6 years as of September 30, 2019 and the weighted-average discount rate was 3.4%.

Maturities of lease liabilities are as follows as of September 30, 2019:

2019 (3 months)	$	146
2020		590
2021		592
2022		474
2023		419
Thereafter		1,664
Total Payments		3,885
Less: Imputed Interest		(584	)
Total	$	3,301