LEASES (Tables)

3 Months Ended

Mar. 31, 2019

The following right-of-use assets and lease liabilities have been reported within other assets and other liabilities on the consolidated statements of condition for the period indicated:



		March 31, 2019
	Balance Sheet Line Item	Operating Leases		Finance Leases		Total
Right-of-use assets	Other Assets	$	11,599	$	1,584	$	13,183
Lease liabilities	Other Liabilities	11,615		1,745		13,360

The components of lease expense for the period indicated was as follows:



	For the Three Months Ended March 31, 2019
Lease Cost:
Operating lease cost ⁽¹⁾	$	348
Finance lease cost:
Amortization of right-of-use assets	28
Interest on lease liabilities⁽²⁾	17
Total finance lease cost	45
Total Lease Cost	$	393

(1) Includes immaterial short-term and variable lease costs, but excludes common area maintenance costs.

(2) Includes immaterial variable lease costs.

Supplemental Cash Flow and Balance Sheet Information

Supplemental cash flow information and non-cash activity related to leases was as follows for the period indicated:



	For the Three Months Ended March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	309
Operating cash flows from finance leases	17
Financing cash flows from finance leases	26
Right-of-use assets obtained in exchange for lease obligations:
Operating leases⁽¹⁾	$	11,885
Finance leases⁽¹⁾	1,612


(1)	Represents right-of-use assets recorded for the period indicated, including $10.5 million of operating leases and $1.6 million of finance leases recorded upon adoption of ASU 2016-02, as of January 1, 2019.

Supplemental balance sheet information related to leases was as follows for the period indicated:



	For the Three Months Ended March 31, 2019
Weighted average remaining lease term (years):
Operating leases	15.5 years
Finance leases	22.7 years
Weighted average discount rate:
Operating leases	3.69	%
Finance leases	3.94	%

Maturities of Operating Lease Liabilities

The following summarizes the remaining scheduled future minimum lease payments for operating and finance leases as of March 31, 2019:



	Operating Leases		Finance Leases
2019	$	1,003	$	131
2020	1,257		174
2021	1,174		174
2022	1,162		174
2023	1,124		174
Thereafter	9,837		2,095
Total minimum lease payments	15,557		2,922
Less: amount representing interest⁽¹⁾	3,942		1,177
Present value of net minimum lease payments⁽²⁾	$	11,615	$	1,745


(1)	Amount necessary to reduce net minimum lease payments to present value calculated at the Company's incremental borrowing rate.


(2)	Reflects the liability reported within other liabilities on the consolidated statements of condition.

Maturities of Finance Lease Liabilities

The following summarizes the remaining scheduled future minimum lease payments for operating and finance leases as of March 31, 2019:



	Operating Leases		Finance Leases
2019	$	1,003	$	131
2020	1,257		174
2021	1,174		174
2022	1,162		174
2023	1,124		174
Thereafter	9,837		2,095
Total minimum lease payments	15,557		2,922
Less: amount representing interest⁽¹⁾	3,942		1,177
Present value of net minimum lease payments⁽²⁾	$	11,615	$	1,745


(1)	Amount necessary to reduce net minimum lease payments to present value calculated at the Company's incremental borrowing rate.


(2)	Reflects the liability reported within other liabilities on the consolidated statements of condition.

Schedule Of Future Minimum Lease Payments For Operating And Capital Leases [Table Text Block]

The following summarizes expected future minimum lease payments, in accordance with ASC 840, as of December 31, 2018:



	Operating		Capital
2019	$	1,420	$	179
2020	941		179
2021	726		182
2022	539		184
2023	434		184
Thereafter	1,268		1,592
Total minimum lease payments	$	5,328	2,500
Less: amount representing interest⁽¹⁾			920
Present value of net minimum lease payments⁽²⁾			$	1,580


(1)	Amount necessary to reduce net minimum lease payments to present value calculated at the Company's incremental borrowing rate at lease inception.


(2)	Reflects the liability reported within long-term borrowings on the consolidated statements of condition at December 31, 2018.