LEASES (Tables)

12 Months Ended

Dec. 31, 2019

The following table presents the consolidated statements of condition classification of the Company’s ROU assets and lease liabilities as of December 31, 2019:



(in thousands)		December 31, 2019
Lease Right-of-Use Assets	Classification
Operating lease right-of-use assets	Other assets	$	9,623

Lease Liabilities
Operating lease liabilities	Other liabilities	9,651

Additional Information Regarding Leases



	December 31, 2019
Weighted-average remaining lease term
Operating leases	8.96

Weighted-average discount rate
Operating leases	3.27	%

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)	Twelve Months Ended December 31, 2019
Lease Costs
Operating lease cost	$	698
Variable lease cost	711
Total lease cost	$	1,409

Future Minimum Payments for Leases

Future minimum payments for operating leases with initial or remaining terms of one year or more as of December 31, 2019 are, as follows:



(in thousands)	Operating Leases
Twelve Months Ended:
December 31, 2020	$	1,194
December 31, 2021	1,199
December 31, 2022	1,222
December 31, 2023	1,219
December 31, 2024	1,190
Thereafter	5,984
Total future minimum lease payments	12,008
Amounts representing interest	(2,357		)
Present value of net future minimum lease payments	$	9,651