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Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases

Summary of lease-related balances

​

​	​	​	​	​	​	​
​	As of December 31,					​
​	2021			2020
Lease balances	​	​	​	​	​	​
Right of use assets	$	10,533	​	$	7,714	​
Lease liabilities	​	10,591	​	​	7,757	​
​	​	​	​	​	​	​
Supplemental information	​	​	​	​	​	​
Year through which lease terms extend	​	2031	​	​	2032	​
Weighted average remaining lease term (in years)	​	6.47	​	​	5.93	​
Weighted average discount rate	​	2.16	%	​	2.82	%

Schedule of lease costs and other lease information

The following table represents lease costs and cash flows related to leases for the periods presented (dollars in thousands):

​

​	​	​	​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2021			2020		​	2019
Lease costs	​	​	​	​	​	​	​	​	​
Operating lease costs	​	$	2,464	​	$	2,524	​	$	2,364
Variable lease costs	​	​	540	​		416	​		432
Short-term lease costs	​	​	49	​	​	35	​	​	84
Total lease cost (1)	​	$	3,053	​	$	2,975	​	$	2,880
​	​	​	​	​	​	​	​	​	​
Cash flows related to leases	​	​	​	​	​	​	​	​	​
Cash paid for amounts included in the measurement of lease liabilities:	​	​	​	​	​	​	​	​	​
Operating lease cash flows – Fixed payments	​	$	2,417	​	$	2,526	​	$	2,296
Operating lease cash flows – Liability reduction	​	​	2,217	​		2,289	​		2,010
Right of use assets obtained during the period in exchange for operating lease liabilities (2)	​	​	5,818	​	​	743	​	​	923

(1) Rent expense is included in net occupancy and equipment expense in the Consolidated Statements of Income.

(2) The year ended December 31, 2021, includes $0.4 million related to a lease obtained in the acquisition of CAC.

Schedule of future undiscounted lease payments

Future undiscounted lease payments with initial terms of one year or more, are as follows (dollars in thousands):

​

​	​	​	​
​	​	As of
​		December 31, 2021
Rent commitments	​	​	​
2022	​	$	2,271
2023	​		2,098
2024	​	​	1,650
2025	​	​	1,413
2026	​	​	1,164
Thereafter	​	​	2,766
Total undiscounted cash flows	​	​	11,362
Less: Amounts representing interest	​	​	771
Present value of net future minimum lease payments	​	$	10,591

Summary of revenue recorded in connection with leases

Revenues recorded in connection with these leases and reported in other income on our Consolidated Statements of Income are summarized as follows (dollars in thousands):

​

​	​	​	​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2021			2020		​	2019
Rental income	​	$	566	​	$	228	​	$	263

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Tabular disclosure of lease-related balances reported in the consolidated balance sheets.

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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
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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=123408670&loc=SL77918701-209980

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Tabular disclosure of components of income from operating lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 30
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=124258985&loc=SL77919372-209981

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 50
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