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Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Operating and Finance Lease Right-of-use Assets and Lease Liabilities
The following table shows the balances of operating and finance lease right-of-use assets and lease liabilities as of December 31, 2019.
(in thousands)
December 31, 2019

Operating leases:
 
Operating lease right-of-use assets
$
11,002

Operating lease liabilities
$
12,615

Finance leases:
 
Finance lease right-of-use assets
$
379

Accumulated amortization
(170
)
Finance lease right-of-use assets, net1
$
209

Finance lease liabilities2
$
212

1 Included in premises and equipment in the consolidated statements of condition.
2 Included in borrowings and other obligations in the consolidated statements of condition.
Schedule of Components of Operating and Finance Lease Cost
The following table shows supplemental disclosures of noncash investing and financing activities for the year ended December 31, 2019.
(in thousands)
2019
Right-of-use assets obtained in exchange for operating lease liabilities
$
1,661

Right-of-use assets obtained in exchange for finance lease liabilities
$
31

Reclassification of deferred rent and unamortized lease incentives from other liabilities to operating lease right-of-use assets upon adoption of ASC 842
$
1,967


There were no lease-related noncash investing and financing activities for the year ended December 31, 2018.

The following table shows components of operating and finance lease cost for the year ended December 31, 2019.
(in thousands)
2019
Operating lease cost1
$
4,144

Finance lease cost:
 
Amortization of right-of-use assets2
$
172

Interest on finance lease liabilities3
8

Total finance lease cost
$
180

Total lease cost
$
4,324

1 Included in occupancy and equipment expense in the consolidated statements of comprehensive income.
 
2 Included in depreciation and amortization in the consolidated statements of comprehensive income.
 
3 Included in interest on borrowings and other obligations in the consolidated statements of comprehensive income.
 
Schedule of Finance Lease Liability Maturities

The following table shows the future minimum lease payments, weighted average remaining lease terms, and weighted average discount rates under operating and finance lease arrangements as of December 31, 2019. Total minimum lease payments do not include obligations of approximately $13.6 million for operating lease modifications related to our existing headquarter offices and an operating lease agreement for a retail branch location that commenced subsequent to December 31, 2019. The discount rates used to calculate the present value of lease liabilities were based on the collateralized FHLB borrowing rates that were commensurate with lease terms and minimum payments on the later of the date we adopted the new lease accounting standards or lease commencement date.

(in thousands)
December 31, 2019
Year
Operating Leases

 
Finance Leases

2020
$
4,469

 
$
171

2021
2,806

 
36

2022
1,952

 
8

2023
1,464

 
1

2024
792

 
—

Thereafter
2,092

 
—

Total minimum lease payments
13,575

 
216

Amounts representing interest (present value discount)
(960
)
 
(4
)
Present value of net minimum lease payments (lease liability)
$
12,615

 
$
212

 
 
 
 
Weighted average remaining term (in years)
5.0

 
1.4

Weighted average discount rate
2.79
%
 
2.87
%