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Leases | 6 Months Ended
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Jun. 30, 2021
Leases [Abstract] |
Leases | Note 14 – Leases The Company leases certain premises under operating leases. As of June 30, 2021, the Company had lease liabilities of $5,429,000 and right-of-use assets of $4,912,000. Lease liabilities and right-of-use assets are reflected in other liabilities and other assets, respectively. Presented within occupancy expense on the Consolidated Statements of Income for the three months ended June 30, 2021, operating lease cost was $415,000, short-term lease cost was $61,000, and there was no variable lease cost. For the six months ended June 30, 2021, operating lease cost was $835,000, short-term lease cost was $91,000, and there was no variable lease cost. At June 30, 2021, the weighted average remaining lease term for the operating leases was 6.1 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 changes in the Company’s expected future minimum lease payments since December 31, 2020. See the Company’s 2020 Annual Report on Form 10-K for information regarding these commitments. A maturity analysis of operating lease liabilities and undiscounted cash flows as of June 30, 2021 is as follows:
(In thousands) |  | June 30, 2021
Lease payments due |  |  |
Less than 1 year |  | $ | 1,695
1-2 years |  |  | 1,351
2-3 years |  |  | 532
3-4 years |  |  | 509
4-5 years |  |  | 519
Over 5 years |  |  | 1,760
Total undiscounted cash flows |  |  | 6,366
Discount on cash flows |  |  | 937
Total lease liability |  | $ | 5,429
-20- Table of Contents There were no sale and leaseback transactions, leveraged leases, or lease transactions with related parties during the six months ended June 30, 2021. At June 30, 2021, the Company had one lease that had not yet commenced, creating approximately $200,000 of additional lease liabilities and right-of-use assets for the Company. This lease will commence in July 2021.

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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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