LEASES

6 Months Ended

Jun. 30, 2020

A lease provides the lessee the right to control the use of an identified asset for a period of time in exchange for consideration. The Company has primarily entered into operating leases for branches and office space. Most of the Company's leases contain renewal options, which the Company is reasonably certain to exercise. Including renewal options, the Company's leases range from three years to 50 years. Operating lease right-of-use assets and lease liabilities are included in other assets and accrued interest and other liabilities on the Company's unaudited condensed consolidated balance sheets.

The Company uses its incremental borrowing rate to determine the present value of the lease payments, as the rate implicit in the Company's leases is not readily determinable. Lease agreements that contain non-lease components are generally accounted for as a single lease component, while variable costs, such as common area maintenance expenses and property taxes, are expensed as incurred.

The following table presents information related to the Company's operating leases at June 30, 2020 and December 31, 2019:


	June 30, 2020			December 31, 2019
Operating lease ROU assets	$	8,746		$	9,222
Operating lease ROU liabilities	9,265			9,688
Weighted-average remaining lease term (in years)	17.9			17.6
Weighted-average discount rate	4.6		%	4.5		%

The following table presents information related to the Company's operating leases for the three and six months ended June 30, 2020 and 2019:


	Three Months Ended						Six Months Ended
	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
Cash paid for operating lease liabilities	$	319	$	281	$	637	$	461
Operating lease expense	370		256		750		509

The following table presents expected future maturities of the Company's lease liabilities as of June 30, 2020:


Remainder of 2020	$	642
2021	1,147
2022	727
2023	748
2024	738
Thereafter	10,549
	14,551
Less: imputed interest	5,286
Total lease liabilities	$	9,265