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Leases Leases | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Leases | Leases The Corporation leases various office spaces, loan production offices, and specialty financing production offices under non-cancelable operating leases which expire on various dates through 2028. The Corporation also leases office equipment. The Corporation recognizes an operating lease liability and a right-of-use asset for all leases, with the exception of short-term leases. The lease payments on short-term leases are recognized as rent expense on a straight-line basis. For the three and nine months ended September 30, 2019, total operating lease costs were $391,000 and $1.2 million, respectively. Quantitative information regarding the Corporation’s operating leases was as follows:
|  | September 30, 2019
Weighted-average remaining lease term (in years) |  | 6.73 |
Weighted-average discount rate |  | 3.11 | %
The following maturity analysis shows the undiscounted cash flows due on the Corporation’s operating leases liabilities:
(In Thousands) |
2019 | $ | 384 |
2020 | 1,541 |
2021 | 1,382 |
2022 | 1,373 |
2023 | 1,015 |
Thereafter | 3,063 |
Total undiscounted cash flows | 8,758 |
Discount on cash flows | (892 | )
Total lease liability | $ | 7,866 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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