LEASES (Tables)

6 Months Ended

Jun. 30, 2019

Right-of-use assets and lease liabilities

The following table presents the consolidated statements of condition classification of the Company’s ROU assets and lease liabilities as of June 30, 2019:



(in thousands)		June 30, 2019
Lease Right-of-Use Assets	Classification
Operating lease right-of-use assets	Other assets	$	8,629

Lease Liabilities
Operating lease liabilities	Other liabilities	8,681

Additional information regarding leases

The following table represents lease costs and other lease information. As the Company elected, for all classes of underlying assets, not to separate lease and non-lease components and instead to account for them as a single lease component, the variable lease cost primarily represents variable payments such as real estate taxes, common area maintenance and utilities.



(in thousands)	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Lease Costs
Operating lease cost	$	233	$	464
Variable lease cost	84		208
Total lease cost	$	317	$	672



	June 30, 2019
Weighted-average remaining lease term
Operating leases	10 years

Weighted-average discount rate
Operating leases	3.37	%

Future minimum payments for leases

Future minimum payments for operating leases with initial or remaining terms of one year or more as of June 30, 2019 are, as follows:



(in thousands)	Operating Leases
Twelve Months Ended:
June 30, 2020	$	917
June 30, 2021	898
June 30, 2022	908
June 30, 2023	910
June 30, 2024	913
Thereafter	6,296
Total future minimum lease payments	10,842
Amounts representing interest	(2,161		)
Present value of net future minimum lease payments	$	8,681