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Leases | 3 Months Ended
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Mar. 31, 2019
Lessee Disclosure [Abstract] |
Leases | Note 13 – Leases Effective January 1, 2019, the Company adopted new accounting guidance regarding Leases (Topic 842). As of March 31, 2019, the Company leased eight branch offices for which the land and buildings are leased and nine branch offices for which the land is leased but the building is owned. The Company also leases one loan production office and office space for several operational departments. All of the Company’s leases have historically qualified as operating leases under prior accounting guidance, and therefore, were not previously recognized on the Company’s Consolidated Balance Sheets. The lease agreements have maturity dates ranging from January 2021 through May 2076, some of which include options for multiple five- and ten-year extensions. The weighted average remaining life of the lease term for these leases was 21.19 years as of March 31, 2019. The discount rate that was determined for each lease was based on the Company’s incremental borrowing rate at lease inception, on a collateralized basis, over a similar term. For operating leases existing prior to January 1, 2019, the rate for the remaining lease term as of January 1, 2019 was used. The weighted average discount rate for leases was 3.42% as of March 31, 2019. Total operating lease expense was $0.6 million for the three months ended March 31, 2019. The right-of-use assets, included in premises and equipment, and lease liabilities, included in other liabilities, were $18.9 million and $19.0 million as of March 31, 2019, respectively. Estimated lease payments for the Company’s operating leases with initial terms of one year or more as of March 31, 2019 were as follows.
($ in thousands) |  | Estimated Amortization Expense |
April 1 to December 31, 2019 |  | $ | 2,206 |
2020 |  |  | 2,175 |
2021 |  |  | 1,986 |
2022 |  |  | 1,699 |
2023 |  |  | 1,607 |
Thereafter |  |  | 19,571 |
Total estimated lease payments |  |  | 29,244 |
Less effect of discounting |  |  | (10,268 | )
Present value of estimated lease payments (lease liability) |  | $ | 18,976 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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- References No definition available. + Details
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