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Commitments and Contingencies - (Tables)
 9 Months Ended
Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]  
Schedule of undrawn loan commitments and standby letters of credit
The contractual amount of undrawn loan commitments and standby letters of credit not reflected in the consolidated statements of condition are as follows:
(in thousands)September 30, 2020December 31, 2019
Commercial lines of credit$301,107 $287,533 
Revolving home equity lines193,364 189,035 
Undisbursed construction loans59,548 41,033 
Personal and other lines of credit10,923 9,567 
Standby letters of credit2,572 1,964 
   Total commitments and standby letters of credit$567,514 $529,132 
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 September 30, 2020.
(in thousands)September 30, 2020December 31, 2019
Operating leases:
Operating lease right-of-use assets$26,041 $11,002 
Operating lease liabilities$27,527 $12,615 
Finance leases:
Finance lease right-of-use assets$365 $379 
Accumulated amortization(267)(170)
Finance lease right-of-use assets, net1
$98 $209 
Finance lease liabilities2
$99 $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 period presented.
Nine months ended
(in thousands)September 30, 2020September 30, 2019
Right-of-use assets obtained in exchange for operating lease liabilities$18,021 $1,661 
Right-of-use assets obtained in exchange for finance lease liabilities$18 $31 
Reclassification of deferred rent and unamortized lease incentives from other liabilities to operating lease right-of-use assets upon adoption of ASC 842$— $1,967 
The following table shows components of operating and finance lease cost.
Three months endedNine months ended
(in thousands)September 30, 2020September 30, 2019September 30, 2020September 30, 2019
Operating lease cost$1,165 $1,051 $3,334 $3,123 
Variable lease cost1 — 4 — 
Total operating lease cost1
$1,166 $1,051 $3,338 $3,123 
Finance lease cost:
Amortization of right-of-use assets2
$41 $43 $129 $128 
Interest on finance lease liabilities3
1 2 3 $7 
Total finance lease cost42 45 $132 $135 
Total lease cost$1,208 $1,096 $3,470 $3,258 
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 operating 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 September 30, 2020. 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)September 30, 2020
YearOperating LeasesFinance Leases
2020$1,199 $41 
20214,592 42 
20224,318 13 
20233,893 4 
20243,187 — 
Thereafter12,475 — 
Total minimum lease payments29,664 100 
Amounts representing interest (present value discount)(2,137)(1)
Present value of net minimum lease payments (lease liability)$27,527 $99 
Weighted average remaining term (in years)8.01.2
Weighted average discount rate1.84 %2.55 %
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 September 30, 2020. 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)September 30, 2020
YearOperating LeasesFinance Leases
2020$1,199 $41 
20214,592 42 
20224,318 13 
20233,893 4 
20243,187 — 
Thereafter12,475 — 
Total minimum lease payments29,664 100 
Amounts representing interest (present value discount)(2,137)(1)
Present value of net minimum lease payments (lease liability)$27,527 $99 
Weighted average remaining term (in years)8.01.2
Weighted average discount rate1.84 %2.55 %