Leases (Tables)

3 Months Ended

Mar. 31, 2019

Lease Right of Use Assets and Lease Liabilities

The following table represents the Consolidated Statement of Financial Condition classification of the Corporation’s ROU assets and lease liabilities. The Corporation elected not to include short-term leases (i.e., leases with remaining terms of 12 months or less), or equipment leases that were deemed immaterial on the Consolidated Statement of Financial Condition.



(in thousands)		March 31, 2019
Lease Right-of Use Assets
Operating lease right-of-use assets	$	2,665
Lease Liabilities
Operating lease liabilities	$	3,250

Weighted-Average Lease Term and Discount Rate, Operating Leases

The following table presents the weighted-average lease term and discount rate for operating leases at March 31, 2019:


		March 31, 2019
Weighted-average remaining lease term
Operating leases		9.01 years

Weighted-average discount rate
Operating leases		5.09%

Future Minimum Payments for Operating Leases

Future minimum payments for operating leases with initial or remaining terms of one year or more at March 31, 2019 were as follows:


(in thousands)		Operating Leases

2019 (remainder of year)	$	343
2020		467
2021		466
2022		459
2023		393
Thereafter		1,983
Total future minimum lease payments		4,111
Amounts representing interest		(861)
Present value of net future minimum lease payments	$	3,250