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Leases | 9 Months Ended
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Sep. 30, 2020
Leases [Abstract] |
Leases | Note 9—Leases During the three-month period ended September 30, 2020 and September 30, 2019, the Company made cash payments for operating leases in the amount of $73.1 thousand and $49.3 thousand, respectively. During the nine-month period ended September 30, 2020 and September 30, 2019, the Company made cash payments for operating leases in the amount of $218.4 thousand and $147.3 thousand, respectively. The lease expense recognized during this three-month period amounted to $80.8 thousand and $62.1. thousand at September 30, 2020 and September 30, 2019, respectively. The lease expense recognized during this nine-month period amounted to $242.3 thousand and $178.8 thousand at September 30, 2020 and September 30, 2019, respectively. The lease liability was reduced by $38.1 thousand and $17.0 thousand at three-month ended September 30, 2020 and September 30, 2019, respectively. The lease liability was reduced by $112.9 thousand and $51.0 thousand for the nine-month periods ended September 30, 2020 and September 30, 2019, respectively. At September 30, 2020 and September 30, 2019, the weighted average lease term was 15.96 years and 16.76 years, respectively, and the weighted average discount rate for both years was 4.41%. The following table is a maturity analysis of the operating lease liabilities. Note 9—Leases-continued
(Dollars in thousands) |  |  |  |  |  |  |  |  |
|  |  |  |  | Lease |  |  | Liability |
Year |  | Cash |  |  | Expense |  |  | Reduction |
2020 |  | $ | 74 |  |  | $ | 35 |  |  | $ | 39 |
2021 |  |  | 298 |  |  |  | 133 |  |  |  | 165 |
2022 |  |  | 303 |  |  |  | 126 |  |  |  | 177 |
2023 |  |  | 309 |  |  |  | 118 |  |  |  | 191 |
2024 |  |  | 282 |  |  |  | 110 |  |  |  | 172 |
Thereafter |  |  | 3,200 |  |  |  | 790 |  |  |  | 2,410 |
Total |  | $ | 4,466 |  |  | $ | 1,312 |  |  | $ | 3,154 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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