Leases (Tables)

9 Months Ended

Sep. 30, 2021

Leases [Abstract]

Schedule of Operating Lease Terms

The following table presents information regarding the Corporation’s operating leases:

	Sep 30, 2021		Dec 31, 2020
Weighted average discount rate	3.35	%	3.34	%
Range of lease expiration dates	10 months - 19 years		7 months - 20 years
Range of lease renewal options	1 year - 5 years		1 year - 5 years
Weighted average remaining lease term	13.0 years		13.4 years

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, 2021, including a reconciliation to the present value of operating lease liabilities recognized in the Unaudited Consolidated Balance Sheets:

(Dollars in thousands)
October 1, 2021 to December 31, 2021	$978
2022	3,981
2023	3,881
2024	3,670
2025	2,932
2026 and thereafter	22,099
Total operating lease payments (1)	37,541
Less: interest	7,731
Present value of operating lease liabilities (2)	$29,810

(1)    Includes $1.4 million related to options to extend lease terms that are reasonably certain of being exercised.

(2)    Includes short-term operating lease liabilities of $3.1 million.

Schedule of Total Lease Expense

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

(Dollars in thousands)	Three Months		Nine Months
Periods ended September 30,	2021	2020	2021	2020
Lease Expense:
Operating lease expense	$1,004	$1,005	$3,011	$2,915
Variable lease expense	10	14	44	41
Total lease expense (1)	$1,014	$1,019	$3,055	$2,956
Cash Paid:
Cash paid reducing operating lease liabilities	$932	$956	$2,910	$2,831

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