Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Schedule of remaining operating lease payments, inclusive of renewal options

The following table presents the undiscounted annual lease payments under the terms of the Corporation’s operating leases at September 30, 2019, including a reconciliation to the present value of operating lease liabilities recognized in the Corporation’s Unaudited Consolidated Balance Sheets:

(Dollars in thousands)
October 1, 2019 to December 31, 2019		$930
2020	3,515
2021	3,312
2022	3,165
2023	3,090
2024 and thereafter	24,716
Total operating lease payments (1)	38,728
Less interest	9,187
Present value of operating lease liabilities (2)		$29,541

(1) Includes $4.2 million related to options to extend lease terms that are reasonably certain of being exercised.

(2) Includes short-term operating lease liabilities of $2.3 million.

Schedule of total lease expense

The following table presents the components of total lease expense and operating cash flows:

(Dollars in thousands)
Periods ended September 30, 2019	Three Months		Nine Months
Lease Expense:
Operating lease expense		$931		$2,787
Variable lease expense	13		36
Total lease expense (1)		$944		$2,823
Cash Paid:
Cash paid reducing operating lease liabilities		$926		$2,677

(1) Included in net occupancy expenses in the Unaudited Consolidated Income Statement.

Schedule of future minimum lease payments

The following table presents the minimum annual lease payments under the terms of these leases, exclusive of renewal provisions at December 31, 2018:

(Dollars in thousands)
Years ending December 31:	2019		$3,544
	2020	2,980
	2021	2,677
	2022	2,293
	2023	2,059
	2024 and thereafter	22,648
Total minimum lease payments			$36,201