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Leases
9 Months Ended
Sep. 30, 2021
Leases  
Leases

Note 11 — Leases

The Company leases certain buildings, land and equipment that are classified as operating leases. These leases have remaining lease terms of up to approximately 3 years.  In the third quarter and nine months of 2021 and 2020, operating lease cost and cash paid for operating lease liabilities totaled $272 and $257, respectively, and $781 and $751, respectively, which is classified in cash flows from operating activities.  As of September 30, 2021 and 2020, operating lease right-of-use assets and operating lease liabilities were $7,617 and $1,062, respectively. The weighted-average remaining lease term related to these operating leases was 8.1 years and 1.0 years as of September 30, 2021 and 2020, respectively. The weighted-average discount rate related to the Company’s operating leases was 2.3% and 3.0% as of September 30, 2021 and 2020, respectively. Maturities of the Company’s operating lease liabilities at September 30, 2021 are as follows: $279 in 2021 (rest of year), $1,011 in 2022, $725 in 2023, $421 in 2024, $422 in 2025 and $4,759 thereafter.

The Company, as lessor, rents certain commercial real estate to third-party lessees. The September 30, 2021 and 2020 cost related to these leased properties was $51,402 and $36,378, respectively, and the accumulated depreciation related to these leased properties was $15,314 and $10,794, respectively. Terms of such leases, including renewal options, may be extended for up to sixty years, many of which provide for periodic adjustment of rent payments based on changes in consumer or other price indices. The Company recognizes lease income on a straight-line basis over the lease term. Lease income in third quarter and nine months 2021 and 2020 was $945 and $802, respectively, and $3,021 and $2,328, respectively, and is classified in cash flows from operating activities.