Leases

12 Months Ended

Dec. 31, 2020

Note 15. Leases

The Company’s long-term lease agreements are classified as operating leases. Certain of these leases offer the option to extend the lease term and the Company has included such extensions in its calculation of the lease liabilities to the extent the options are reasonably assured of being exercised. The lease agreements do not provide for residual value guarantees and have no restrictions or covenants that would impact dividends or require incurring additional financial obligations.

The following tables present information about the Company’s leases:

(Dollars in thousands)	December 31, 2020
Lease liabilities	$	5,506
Right-of-use assets, net	$	5,328
Weighted average remaining lease term	5.7 years
Weighted average discount rate		2.79	%

Lease liabilities are included within other liabilities on the consolidated balance sheets.

	Year Ended December 31,
Lease Cost (dollars in thousands)	2020		2019
Operating lease cost	$	1,731	$	1,523
Total lease cost	$	1,731	$	1,523
Cash paid for amounts included in the measurement of lease liabilities	$	—	$	1,441

A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total of operating lease liabilities for the periods stated is as follows:

(Dollars in thousands)	December 31, 2020
Twelve months ending December 31, 2021	$	1,316
Twelve months ending December 31, 2022		1,114
Twelve months ending December 31, 2023		991
Twelve months ending December 31, 2024		655
Twelve months ending December 31, 2025		492
Thereafter		1,486
Total undiscounted cash flows		6,054
Discount		(548	)
Lease liabilities	$	5,506