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Leases (Tables) | 6 Months Ended
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Jun. 30, 2021
Leases |
Summary of lease-related balances | The following table summarizes lease-related information and balances the Company reported in its unaudited Consolidated Balance Sheets for the periods presented (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | As of | ​
​ | June 30, | ​ | December 31, | ​
​ | 2021 |  | 2020 |
Lease balances | ​ | ​ | ​ | ​ | ​ | ​
Right of use assets | $ | 8,228 | ​ | $ | 7,714 | ​
Lease liabilities | ​ | 8,280 | ​ | ​ | 7,757 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Supplemental information | ​ | ​ | ​ | ​ | ​ | ​
Year through which lease terms extend | ​ | 2031 | ​ | ​ | 2032 | ​
Weighted average remaining lease term (in years) | ​ | 5.28 | ​ | ​ | 5.93 | ​
Weighted average discount rate | ​ | 2.38 | % | ​ | 2.82 | %
Schedule of lease costs and other lease information | The following tables represents lease costs and other lease information for the periods presented (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | Six Months Ended June 30, | ​
​ |  | 2021 | ​ | 2020 | ​ | 2021 | ​ | 2020 | ​
Lease costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease costs | ​ | $ | 608 | ​ | $ | 635 | ​ | $ | 1,172 | ​ | $ | 1,255 | ​
Variable lease costs | ​ | ​ | 126 | ​ | ​ | 131 | ​ | ​ | 300 | ​ | ​ | 302 | ​
Short-term lease costs | ​ | ​ | 16 | ​ | ​ | 15 | ​ | ​ | 34 | ​ | ​ | 30 | ​
Total lease cost | ​ | $ | 750 | ​ | $ | 781 | ​ | $ | 1,506 | ​ | $ | 1,587 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows related to leases | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash paid for amounts included in the measurement of lease liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease cash flows – Fixed payments | ​ | $ | 590 | ​ | $ | 612 | ​ | $ | 1,136 | ​ | $ | 1,223 | ​
Operating lease cash flows – Liability reduction | ​ | ​ | 546 | ​ | ​ | 534 | ​ | ​ | 1,041 | ​ | ​ | 1,064 | ​
Right of use assets obtained during the period in exchange for operating lease liabilities (1) | ​ | ​ | 1,462 | ​ | ​ | — | ​ | ​ | 1,610 | ​ | ​ | 128 | ​
| (1) | The three and six months ended June 30, 2021, include $371 related to a lease obtained in the acquisition of CAC.
​
Schedule of future undiscounted lease payments | Rent commitments were as follows (dollars in thousands): ​
​ | ​ | ​ | ​
​ | ​ | As of
​ | ​ | June 30,
​ |  | 2021
Rent commitments | ​ | ​ | ​
Remainder of 2021 | ​ | $ | 1,129
2022 | ​ |  | 1,945
2023 | ​ | ​ | 1,724
2024 | ​ | ​ | 1,289
2025 | ​ | ​ | 1,050
Thereafter | ​ | ​ | 1,708
Amounts representing interest | ​ | ​ | (565)
Present value of net future minimum lease payments | ​ | $ | 8,280

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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