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Leases
 6 Months Ended
Jun. 30, 2021
Leases [Abstract]  
Leases

Note 9—Leases

 

During the three-month period ended June 30, 2021 and June 30, 2020, the Company made cash payments for operating leases in the amount of $74.1 thousand and $72.7 thousand, respectively. During the six-month period ended June 30, 2021 and June 30, 2020, the Company made cash payments for operating leases in the amount of $148.0 thousand and $145.3 thousand, respectively. The lease expense recognized during this three-month period amounted to $80.8 thousand at both June 30, 2021 and June 30, 2020, respectively. The lease expense recognized during this six-month period amounted to $161.5 thousand at both June 30, 2021 and June 30, 2020, respectively. The lease liability was reduced by $40.7 thousand and $37.7 thousand at three-month ended June 30, 2021 and June 30, 2020, respectively. The lease liability was reduced by $81.2 thousand and $74.8 thousand at six-month ended June 30, 2021 and June 30, 2020, respectively. At June 30, 2021 and June 30, 2020, the weighted average lease term was 15.43 years and 16.16 years, respectively. The weighted average discount rate for June 30, 2021 and June 30, 2020 was 4.42% and 4.41%, respectively. The following table is a maturity analysis of the operating lease liabilities.

 

(Dollars in thousands)                 Liability  
Year     Cash     Lease Expense     Reduction  
2021     $ 150     $ 66     $ 83  
2022       303       126       177  
2023       309       118       191  
2024       282       110       172  
2025       222       104       118  
Thereafter       2,978       687       2,292  
Total     $ 4,244     $ 1,211     $ 3,033