Leases (Tables)
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12 Months Ended |
Dec. 31, 2020 |
Leases [Abstract] |
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Schedule Of Operating And Finance Lease Liabilities |
| | | | | | | | | | | | | | | | | | | | | Leases | | Classification | | December 31, 2020 | | December 31, 2019 | Assets: | | | | | | | Operating lease assets | | Operating lease assets | | $ | 18,407 | | | $ | 18,422 | | Finance lease assets | | Premises and equipment, net (1) | | 429 | | | 501 | | Total leased assets | | | | $ | 18,836 | | | $ | 18,923 | | | | | | | | | Liabilities: | | | | | | | Operating lease liabilities | | Operating lease liabilities | | $ | 19,449 | | | $ | 19,363 | | Finance lease liabilities | | Accrued interest payable and other liabilities | | 550 | | | 629 | | Total leased liabilities | | | | $ | 19,999 | | | $ | 19,992 | |
(1) Finance lease assets are recorded net of accumulated amortization of $787 and $715 as of December 31, 2020 and 2019, respectively.
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Schedule Of Lease Cost |
The components of the Corporation's net lease expense for the year ended December 31, 2020 and December 31, 2019 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Lease Cost | | Classification | | | | December 31, 2020 | | December 31, 2019 | Operating lease cost | | Net occupancy expense | | | | $ | 1,785 | | | $ | 1,666 | | Variable lease cost | | Net occupancy expense | | | | 87 | | | 98 | | Finance lease cost: | | | | | | | | | Amortization of leased assets | | Net occupancy expense | | | | 72 | | | 72 | | Interest on lease liabilities | | Interest expense - borrowed funds | | | | 27 | | | 30 | | Sublease income (1) | | Net occupancy expense | | | | (86) | | | (83) | | Net lease cost | | | | | | $ | 1,885 | | | $ | 1,783 | |
(1) Sublease income excludes rental income from owned properties.
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Finance Lease, Liability, Maturity |
The following table sets forth future minimum rental payments under noncancelable leases with terms in excess of one year as of December 31, 2020: | | | | | | | | | | | | | | | | | | | | | Maturity of Lease Liabilities as of December 31, 2020 | | Operating Leases | | Finance Leases | | Total | 2021 | | $ | 1,560 | | | $ | 105 | | | $ | 1,665 | | 2022 | | 1,661 | | | 105 | | | 1,766 | | 2023 | | 1,550 | | | 105 | | | 1,655 | | 2024 | | 1,515 | | | 105 | | | 1,620 | | 2025 | | 1,505 | | | 105 | | | 1,610 | | After 2025 | | 19,281 | | | 104 | | | 19,385 | | Total lease payments | | 27,072 | | | 629 | | | 27,701 | | Less: Interest | | 7,623 | | | 79 | | | 7,702 | | Present value of lease liabilities | | $ | 19,449 | | | $ | 550 | | | $ | 19,999 | |
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Summary of Minimum Annual Rental Commitments Under Operating Lease |
The following table sets forth future minimum rental payments under noncancelable leases with terms in excess of one year as of December 31, 2020: | | | | | | | | | | | | | | | | | | | | | Maturity of Lease Liabilities as of December 31, 2020 | | Operating Leases | | Finance Leases | | Total | 2021 | | $ | 1,560 | | | $ | 105 | | | $ | 1,665 | | 2022 | | 1,661 | | | 105 | | | 1,766 | | 2023 | | 1,550 | | | 105 | | | 1,655 | | 2024 | | 1,515 | | | 105 | | | 1,620 | | 2025 | | 1,505 | | | 105 | | | 1,610 | | After 2025 | | 19,281 | | | 104 | | | 19,385 | | Total lease payments | | 27,072 | | | 629 | | | 27,701 | | Less: Interest | | 7,623 | | | 79 | | | 7,702 | | Present value of lease liabilities | | $ | 19,449 | | | $ | 550 | | | $ | 19,999 | |
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Schedule of Weighted Average Lease Term and Discount Rate |
Other information related to the Corporation's lease liabilities as of December 31, 2020 and December 31, 2019 was as follows: | | | | | | | | | | | | | | | Lease Term and Discount Rate | | December 31, 2020 | | December 31, 2019 | Weighted-average remaining lease term (years) | | | | | Operating leases | | 19.0 | | 18.7 | Finance leases | | 6.0 | | 7.0 | | | | | | Weighted-average discount rate | | | | | Operating leases | | 3.46 | % | | 3.52 | % | Finance leases | | 4.49 | % | | 4.49 | % |
Other information related to the Corporation's lease liabilities as of December 31, 2020 and December 31, 2019 as follows: | | | | | | | | | | | | | | | Other Information | | December 31, 2020 | | December 31, 2019 | Cash paid for amounts included in the measurement of lease liabilities | | | | | Operating cash flows from operating leases | | $ | 922 | | | $ | 757 | |
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