LEASES (Tables)

9 Months Ended

Sep. 30, 2019

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



(in thousands)		September 30, 2019
Lease Right-of-Use Assets	Classification
Operating lease right-of-use assets	Other assets	$	8,447

Lease Liabilities
Operating lease liabilities	Other liabilities	8,524

Additional Information Regarding Leases



	September 30, 2019
Weighted-average remaining lease term
Operating leases	9.18

Weighted-average discount rate
Operating leases	3.37	%

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 September 30, 2019		Nine Months Ended September 30, 2019
Lease Costs
Operating lease cost	$	234	$	698
Variable lease cost	69		277
Total lease cost	$	303	$	975

Future Minimum Payments for Leases

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



(in thousands)	Operating Leases
Twelve Months Ended:
September 30, 2020	$	911
September 30, 2021	896
September 30, 2022	912
September 30, 2023	908
September 30, 2024	917
Thereafter	6,065
Total future minimum lease payments	10,609
Amounts representing interest	(2,085		)
Present value of net future minimum lease payments	$	8,524