XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.21.2

Leases | 9 Months Ended
--- | ---
Sep. 30, 2021
Leases [Abstract] |
Leases | Note 5 – Leases Lease liabilities represent the Company’s obligation to make lease payments and are presented at each reporting date as the net present value of the remaining contractual cash flows. Cash flows are discounted at the Company’s incremental borrowing rate in effect at the commencement date of the lease. Right-of-use assets represent the Company’s right to use the underlying asset for the lease term and are calculated as the sum of the lease liability and if applicable, prepaid rent, initial direct costs and any incentives received from the lessor. ​ The Company’s long-term lease agreements are classified as operating leases. Certain leases offer the option to extend the lease term and the Company has included such extensions in its calculation of the lease liabilities to the extent the options are reasonably certain of being exercised. The lease agreements do not provide for residual value guarantees and have no restrictions or covenants that would impact dividends or require incurring additional financial obligations. ​ During the second quarter of 2021, one of the Company’s long-term branch leases was reassessed by management and it was determined that it was not reasonably certain that the options to renew would be exercised after the initial lease term of 10 years. This resulted in a shorter lease term and a reduction of the lease liability and right-to-use assets as compared to the first quarter of 2021 when the lease was initially placed into service. ​ The following tables present information about the Company’s leases: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) | ​ | September 30, 2021 |  | ​ | December 31, 2020 |
Lease liabilities | ​ | $ | 5,686 | ​ | ​ | $ | 4,874 | ​
Right-of-use assets | ​ | $ | 5,512 | ​ | ​ | $ | 4,795 | ​
Weighted average remaining lease term | ​ |  | 9.85 | years | ​ |  | 10.49 | years
Weighted average discount rate | ​ |  | 2.83 | % | ​ |  | 2.89 | %
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Three Months Ended | ​ | For the Nine Months Ended
Lease cost (in thousands) | ​ | September 30, 2021 | ​ | September 30, 2020 | ​ | September 30, 2021 | ​ | September 30, 2020
Operating lease cost | ​ | $ | 207 | ​ | $ | 177 | ​ | $ | 601 | ​ | $ | 534
Short-term lease cost | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Total lease cost | ​ | $ | 207 | ​ | $ | 177 | ​ | $ | 601 | ​ | $ | 534
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash paid for amounts included in the measurement of lease liabilities | ​ | $ | 174 | ​ | $ | 168 | ​ | $ | 505 | ​ | $ | 498
​ A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total of operating lease liabilities is as follows: ​
​ | ​ | ​ | ​
​ | ​ | As of
Lease payments due (in thousands) | ​ | September 30, 2021
Three months ending December 31, 2021 | ​ | $ | 192
Twelve months ending December 31, 2022 | ​ | ​ | 772
Twelve months ending December 31, 2023 | ​ |  | 740
Twelve months ending December 31, 2024 | ​ |  | 709
Twelve months ending December 31, 2025 | ​ | ​ | 573
Twelve months ending December 31, 2026 | ​ | ​ | 568
Thereafter | ​ | ​ | 3,033
Total undiscounted cash flows | ​ | $ | 6,587
Discount | ​ | ​ | 901
Lease liabilities | ​ | $ | 5,686
​

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration