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Leases | 6 Months Ended
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Jun. 30, 2021
Leases [Abstract] |
Leases | (6) LEASES Lessee The Company has operating leases, which primarily consist of office space in buildings, ATM locations, storage facilities, parking lots, equipment and land on which it owns certain buildings. Rent expense for all operating leases, including those rented on a monthly or temporary basis, totaled approximately $462,000 and approximately $453,000 for the three months ended June 30, 2021 and June 30, 2020, respectively. Rent expense for all operating leases, including those rented on a monthly or temporary basis, totaled approximately $966,000 and $916,000 for the six months ended June 30, 2021 and June 30, 2020, respectively. As of June 30, 2021, right of use lease asset included in accrued interest receivable and other assets on the balance sheet totaled $3.8 million, and a related lease liability included in accrued interest payable and other liabilities on the balance sheet totaled $3.7 million. There have been no significant changes in our expected future minimum lease payments since December 31, 2020. The future minimum lease payments are disclosed in Note (20) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. As of June 30, 2021, our operating leases have a weighted-average remaining lease term of 3.3 years and a weighted-average discount rate of 2.8 percent. The following table presents minimum future commitments by year for the Company’s operating leases. Such commitments are reflected as undiscounted values and are reconciled to the discounted present value recognized on the balance sheet.
|  | June 30, 2021 |
|  | (Dollars in thousands) |
2021 (six months) |  | $ | 703 |
2022 |  |  | 1,212 |
2023 |  |  | 708 |
2024 |  |  | 345 |
2025 |  |  | 286 |
Thereafter |  |  | 893 |
Total lease payments |  |  | 4,147 |
Less imputed Interest |  |  | (497 | )
Operating lease liability |  | $ | 3,650 |
Lessor The Company is a lessor of operating leases, which primarily consist of office space in buildings and parking lots. These assets are classified on the balance sheet as premises and equipment. The Company had operating lease revenue of $1.3 million and $1.4 million for the three months ended June 30, 2021 and June 30, 2020, respectively. The Company had operating lease revenue of $2.7 million and $2.8 million for the six months ended June 30, 2021 and June 30, 2020, respectively. Lease revenue is included in occupancy, net on the consolidated statement of comprehensive income. The Company does not have operating leases that extend beyond 2031. The following table presents the scheduled minimum future contractual rent to be received under the remaining non-cancelable term of the operating leases:
|  | June 30, 2021 |
|  | (Dollars in thousands) |
2021 (six months) |  | $ | 1,765 |
2022 |  |  | 2,857 |
2023 |  |  | 2,636 |
2024 |  |  | 2,571 |
2025 |  |  | 1,946 |
2026-2031 |  |  | 6,146 |
Total future minimum lease payments |  | $ | 17,921 |

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- Definition Lessee and lessor operating leases. + References No definition available. + Details
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