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Leases

3 Months Ended

Mar. 31, 2019

The Company has operating leases for branch office locations, vehicles and certain office equipment such as printers, copiers and faxes. The leases have remaining lease terms of 1 to 11.5 years, some of which include options to extend the lease for up to 10 years and some of which include options to terminate the leases within 1 year.

The right of use asset and lease liability as of March 31, 2019 was $3.5 million.

Lease payments made for the quarter ended March 31, 2019 were $146 thousand. Interest expense and amortization expense on finance leases were $27 thousand and $89 thousand for the quarter ended March 31, 2019, respectively. The weighted-average remaining lease term for all leases was 7.1 years as of March 31, 2019 and the weighted-average discount rate was 3.4%.

Maturities of lease liabilities are as follows as of March 31, 2019:

2019	$	438
2020		590
2021		592
2022		475
2023		418
Thereafter		1,664
Total Payments		4,177
Less: Imputed Interest		(644	)
Total	$	3,533