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Leases (Tables) | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Summary of Operating and Finance Lease Right-of-Use Assets and Related Lease Liabilities | Below is a summary of the operating and finance lease right-of-use assets and related lease liabilities, as well as the weighted average lease term (in years) and weighted average discount rate for each of the lease classifications as of September 30, 2019.
(Dollars in thousands) |  | September 30, 2019 |
|  | Operating Leases |  |  | Finance Lease |
Right of use asset |  | $ | 10,416 |  |  | $ | 3,492 |
Lease liability |  | $ | 11,534 |  |  | $ | 3,571 |
Weighted average remaining lease term (in years) |  |  | 9.17 |  |  |  | 19.42 |
Weighted average discount rate |  |  | 3.43 | % |  |  | 3.81 | %
Summary of Lease Costs | A summary of lease costs during the three and nine months ended September 30, 2019 are presented below. Interest expense on finance lease liabilities is included in other interest expense, while all other lease costs are included in occupancy expense on Mid Penn’s Consolidated Statements of Income.
(Dollars in thousands) |  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2019 |  |  | September 30, 2019 |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use asset |  | $ | 45 |  |  | $ | 105 |
Interest expense on lease liability |  |  | 34 |  |  |  | 80 |
Total finance lease cost |  |  | 79 |  |  |  | 185 |
Operating lease cost |  |  | 515 |  |  |  | 1,545 |
Short-term lease cost |  |  | — |  |  |  | — |
Variable lease cost |  |  | — |  |  |  | — |
Sublease income |  |  | (6 | ) |  |  | (18 | )
Total lease costs |  | $ | 588 |  |  | $ | 1,712 |
Summary of Cash Paid for Amounts Included in Measurement of Lease Liabilities | A summary of cash paid for amounts included in the measurement of lease liabilities is presented below.
(Dollars in thousands) |  | Nine Months Ended |
|  | September 30, 2019 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from finance leases |  | $ | 80 |
Operating cash flows from operating leases |  |  | 1,633 |
Financing cash flows from finance leases |  |  | 26 |
Summary of Maturity Analysis of Operating and Finance Lease Liabilities and Reconciliation of Undiscounted Cash Flows | A maturity analysis of operating and finance lease liabilities and a reconciliation of the undiscounted cash flows to the total operating and finance lease liability amounts is presented below.
(Dollars in thousands) |  | September 30, 2019 |
|  | Operating Leases |  |  | Finance Lease |
Lease payments due: |  |  |  |  |  |  |  |
Within one year |  | $ | 530 |  |  | $ | 54 |
After one but within two years |  |  | 1,965 |  |  |  | 216 |
After two but within three years |  |  | 1,603 |  |  |  | 217 |
After three but within four years |  |  | 1,464 |  |  |  | 217 |
After four but within five years |  |  | 1,245 |  |  |  | 217 |
After five years |  |  | 6,691 |  |  |  | 4,244 |
Total undiscounted cash flows |  |  | 13,498 |  |  |  | 5,165 |
Discount on cash flows |  |  | (1,964 | ) |  |  | (1,594 | )
Total lease liability |  | $ | 11,534 |  |  | $ | 3,571 |
Schedule of Future Minimum Rental Payments of Operating Leases | The following summary reflects the future minimum rental payments by year under Mid Penn’s operating leases as of December 31, 2018, including a breakdown of the sublease rental income and future minimum payments owned to related parties.
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |
|  | Lease Obligation |  |  | Sublease Rental Income |  |  | Net Rental Expense |
2019 |  |  | 2,171 |  |  |  | 81 |  |  |  | 2,090 |
2020 |  |  | 1,970 |  |  |  | 81 |  |  |  | 1,889 |
2021 |  |  | 1,603 |  |  |  | 20 |  |  |  | 1,583 |
2022 |  |  | 1,464 |  |  |  | — |  |  |  | 1,464 |
2023 |  |  | 1,245 |  |  |  | — |  |  |  | 1,245 |
thereafter |  |  | 6,691 |  |  |  | — |  |  |  | 6,691 |
|  | $ | 15,144 |  |  | $ | 182 |  |  | $ | 14,962 |

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- Definition Summary of maturity analysis of operating and finance lease liabilities and reconciliation of undiscounted cash flows. + References No definition available. + Details
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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=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
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