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LEASES | 3 Months Ended
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Mar. 31, 2021
Leases [Abstract] |
LEASES | LEASES 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 32 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 summarizes the Company's operating leases at March 31, 2021 and December 31, 2020:
| March 31, 2021 |  | December 31, 2020
Operating lease ROU assets | $ | 9,753 |  |  | $ | 8,686 |
Operating lease ROU liabilities | 10,228 |  |  | 9,143 |
Weighted-average remaining lease term (in years) | 16.0 |  | 16.8
Weighted-average discount rate | 4.3 | % |  | 4.3 | %
The following table presents information related to the Company's operating leases for the three months ended March 31, 2021 and 2020:
|  |  | Three Months Ended
|  |  |  |  | March 31, 2021 |  | March 31, 2020
Cash paid for operating lease liabilities |  |  |  |  | $ | 343 |  |  | $ | 318 |
Operating lease expense |  |  |  |  | 403 |  |  | 380 |
The following table presents expected future maturities of the Company's lease liabilities as of March 31, 2021:
2021 | $ | 957 |
2022 | 926 |
2023 | 951 |
2024 | 974 |
2025 | 991 |
Thereafter | 10,387 |
| 15,186 |
Less: imputed interest | 4,958 |
Total lease liabilities | $ | 10,228 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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