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Leases | 12 Months Ended
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Dec. 31, 2019
Leases [Abstract] |
Leases | Note 18 Leases On January 1, 2019, the Company adopted ASU 2016-02. The Company leases certain premises under operating leases. As of December 31, 2019, the Company had lease liabilities of $6,682,000 and right-of-use assets of $5,848,000. Lease liabilities and right-of-use assets are reflected in other liabilities and other assets, respectively. Included in occupancy expense on the consolidated statements of income for 2019 was operating lease cost of $1,675,000, short-term lease cost of $145,000, and there was no variable lease cost. The Company paid cash of $1,531,000 for operating lease amounts included in the measurement of lease liabilities for the year ended December 31, 2019. No right-of-use assets were obtained in exchange for lease liabilities during the year ended December 31, 2019. For the year ended December 31, 2019, the weighted average remaining lease term for the operating leases was 6.4 years and the weighted average discount rate used in the measurement of operating lease liabilities was 5.5%. Certain of the Company’s leases contain options to renew the lease; however, these renewal options are not included in the calculation of the lease liabilities as they are not reasonably certain to be exercised. There has been no significant change in the Company’s expected future minimum lease payments since December 31, 2018. 57 Table of Contents A maturity analysis of operating lease liabilities and undiscounted cash flows as of December 31, 2019 was as follows:
(In thousands) |  |  | December 31, 2019 |
Lease payments due |  |  |  |
Less than 1 year |  | $ | 1,748 |
1-2 years |  |  | 1,613 |
2-3 years |  |  | 1,538 |
3-4 years |  |  | 614 |
4-5 years |  |  | 392 |
Over 5 years |  |  | 1,972 |
Total undiscounted cash flows |  |  | 7,877 |
Discount on cash flows |  |  | 1,195 |
Total lease liability |  | $ | 6,682 |
There were no sale and leaseback transactions, leveraged leases, or lease transactions with related parties during the year ended December 31, 2019. At December 31, 2019, the Company had one lease that had not yet commenced, but is expected to create approximately $800,000 of additional lease liabilities and right-of-use assets for the Company. This lease is anticipated to commence in 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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