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Leases
 3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Leases

Note 9—Leases

 

During the period ended March 31, 2021 and March 31, 2020, the Company made cash payments for operating leases in the amount of $73.9 thousand and $72.6 thousand, respectively. The lease expense recognized during this period amounted to $80.8 thousand on March 31, 2021 and March 31, 2020. The lease liability was reduced by $40.5 thousand and $37.1 thousand at March 31, 2021 and March 31, 2020, respectively. At March 31, 2021 and March 31, 2020, the weighted average lease term was 15.6 years and 16.3 years, respectively, and the weighted average discount rate for both years was 4.4%. The following table is a maturity analysis of the operating lease liabilities. 

 

(Dollars in thousands)           Liability 
Year   Cash   Lease Expense   Reduction 
2021   $224   $100   $124 
2022    303    126    177 
2023    309    118    191 
2024    282    110    172 
2025    222    104    118 
Thereafter    2,978    687    2,291 
Total   $4,318   $1,245   $3,073