XML 23 R14.htm IDEA: XBRL DOCUMENT v3.22.2
Leases
 6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Lessee, Operating Leases Leases
The Corporation leases various office spaces and specialized lending production offices under non-cancellable operating leases which expire on various dates through 2033. The Corporation also leases office equipment. The Corporation recognizes a right-of-use asset and an operating lease liability for all leases, with the exception of short-term leases. Right-of-use assets represent the right to use an underlying asset for the lease term and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. Lease expense for operating leases and short-term leases is recognized on a straight-line basis over the lease term. During 2022, the Corporation entered into a new lease in the Southeast Wisconsin market resulting in a $1.6 million right-of-use asset. In addition, the Corporation received a $991,000 tenant improvement allowance which is recognized as a lease incentive and deducted from the right-of-use asset.
In 2019, the Corporation entered into a sublease for office space it vacated in its Kansas City metropolitan area which expires in 2023. During the first quarter 2022, the Corporation amended the sublease agreement and the amendment did not result in any impairment.
The components of total lease expense were as follows:
For the Three Months Ended June 30,For the Six Months Ended June 30,
2022202120222021
(In Thousands)
Operating lease cost
$382 $374 $765 $749 
Short-term lease cost
37 49 74 88 
Variable lease cost
140 111 266 239 
Less: sublease income
(45)(43)(90)(82)
Total lease cost, net
$514 $491 $1,015 $994 

Quantitative information regarding the Corporation’s operating leases was as follows:
June 30, 2022December 31, 2021
Weighted-average remaining lease term (in years)
6.845.05
Weighted-average discount rate
2.72 %2.51 %
The following maturity analysis shows the undiscounted cash flows due on the Corporation’s operating lease liabilities:
(In Thousands)
2022$832 
20231,248 
20241,073 
2025949 
2026935 
Thereafter3,003 
Total undiscounted cash flows8,040 
Discount on cash flows(833)
Total lease liability$7,207