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Leases (Tables)
 3 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Lease, Cost
Lease expense is included in office and technology expenses in the Consolidated Statements of Operations. Information regarding the Company’s operating leases follows:
 
Three Months Ended
March 31,
(in thousands)
2020
2019
Operating leases
$
320

$
314

Short-term leases (b)
30

34

Lease expense
$
350

$
348

Sub-lease income
—

—

Lease cost
$
350

$
348

(b)
 
Leases with an initial term of twelve months or less are not recorded on the Consolidated Balance Sheets.
Lessee, Operating Lease Liability, Current and Non-current
Components of the operating lease liability presented on the Consolidated Balance Sheets are as follows:
(in thousands)
As of
March 31, 2020
As of
December 31, 2019
Current:
 
 
Operating lease liabilities
$
1,071

$
1,048

Non-current:
 
 
Operating lease liabilities
3,266

3,454

Total operating lease liabilities
$
4,337

$
4,502
Lessee, Operating Lease, Liability, Maturity
The future minimum lease payments under operating leases that have initial or remaining noncancelable lease terms in excess of one year as of March 31, 2020, are summarized as follows:
Year Ended (in thousands)
 
2020
$
940

2021
1,166

2022
955

2023
666

2024
495

Thereafter
596

Total undiscounted payments
$
4,818

Less: present value adjustment
(481
)
Operating lease liabilities
$
4,337
Operating Lease Other Information
Supplemental lease information is as follows:
 
As of
March 31, 2020
As of
December 31, 2019
Weighted average remaining lease term (years)
4.67

4.84

Weighted average discount rate
4.6
%
4.6
%