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Leases | 12 Months Ended
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Dec. 31, 2020
Leases |
Leases | 7) Leases On January 1, 2019, the Company adopted ASU No. 2016-02, Leases (Topic 842). Under the new guidance, the Company recognizes the following for all leases, at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use (“ROU”) asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. The Company is impacted as a lessee of the offices and real estate used for operations. Some of the Company's lease agreements include options to renew at the Company's option. No lease extensions are reasonably certain to be exercised, therefore it was not considered in the calculation of the ROU asset and lease liability. As of December 31, 2020, operating lease ROU assets, included in other assets and lease liabilities, included in other liabilities, totaled $35,873,000. ​ ​ The following table presents the quantitative information for the Company’s leases: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | December 31, | ​
​ | ​ | ​ | 2020 | ​ | 2019
​ | ​ | (Dollars in thousands)
Operating Lease Cost (Cost resulting from lease payments) | ​ | $ | 6,837 | ​ | $ | 1,490 | ​
Operating Lease - Operating Cash Flows (Fixed Payments) | ​ | $ | 5,572 | ​ | $ | 1,519 | ​
Operating Lease - ROU assets | ​ | $ | 35,873 | ​ | $ | 12,173 | ​
Operating Lease – Liabilities | ​ | $ | 35,873 | ​ | $ | 13,032 | ​
Weighted Average Lease Term - Operating Leases | ​ | ​ | 8.30 yrs | ​ | ​ | 4.79 yrs | ​
Weighted Average Discount Rate - Operating Leases | ​ | ​ | 4.55% | ​ | ​ | 3.86% | ​
​ The following maturity analysis shows the undiscounted cash flows due on the Company’s operating lease liabilities: ​
​ | ​ | ​ | ​
​ | ​ | (Dollars in thousands)
2021 | ​ | $ | 5,242
2022 | ​ | ​ | 5,668
2023 | ​ |  | 5,039
2024 | ​ |  | 4,692
2025 | ​ |  | 4,262
Thereafter | ​ |  | 18,798
Total undiscounted cash flows | ​ | ​ | 43,701
Discount on cash flows | ​ | ​ | (7,828)
Total lease liability | ​ | $ | 35,873
​ ​ ​ ​ The merger with Presidio resulted in the Company operating overlapping branch locations in the cities of Walnut Creek and San Mateo, California. These branches were consolidated in 2020 by vacating the HBC leased locations prior to the lease termination date, and moving the operations to the Presidio branch locations. The consolidation of these two branches into the Presidio locations resulted in the impairment of both Heritage leases at December 31, 2019. The lease impairment and write-off of fixed assets and tenant improvements totaled $434,000 for the Walnut Creek location, and $625,000 for the San Mateo location during the fourth quarter of 2019. ​ In June of 2019, the Company entered into a lease agreement for 54,910 square feet of office space in San Jose, California, commencing on February 1, 2020. The Company completed the relocation of its corporate headquarters, San Jose Branch and factoring subsidiary, Bay View Funding to 224 Airport Parkway, San Jose, California in the third quarter of 2020.

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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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