Leases

12 Months Ended

Dec. 31, 2020

(7) LEASES

The Company has leased premises that expire at various dates through November 30, 2027 subject to various operating leases. The Company has implemented ASC Topic 842 under a modified retrospective approach, in which no adjustments have been made to the prior year balances.

The following table presents the operating lease costs and additional information for the twelve months ended December 31, 2020 and 2019.

(Dollars in thousands)	December 31, 2020		December 31, 2019
Operating lease costs	$	2,384	$	2,184
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases		2,821		2,419
Right-of-use asset obtained in exchange for lease liability		251		2,413

The following table presents the breakout of the operating leases as of December 31, 2020 and 2019.

(Dollars in thousands)	December 31, 2020		December 31, 2019
Operating lease right-of-use assets	$	11,737	$	13,482
Other current liabilities		2,004		2,085
Operating lease liabilities		11,018		12,738
Total operating lease liabilities		13,022		14,823
Weighted average remaining lease term	6.4 years		7.3 years
Weighted average discount rate	5.54%			5.54	%

At December 31, 2020, maturities of the lease liabilities were as follows.

(Dollars in thousands)
2021	$	2,474
2022		2,406
2023		2,356
2024		2,373
2025		2,390
Thereafter		3,521
Total lease payments		15,520
Less imputed interest		2,498
Total operating lease liabilities	$	13,022

Occupancy expense was $2,833,000, $2,436,000, and $2,287,000 for the years ended December 31, 2020, 2019, and 2018.