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Leases | 9 Months Ended
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Sep. 30, 2021
Leases [Abstract] |
Leases | Leases The Company leases land and premises for its branch banking offices, administration facilities, and ATMs. The initial terms of these leases expire at various dates through 2032. Under the provisions of most of these leases, the Company has the option to extend the leases beyond their original terms at rental rates adjusted for changes reported in certain economic indices or as reflected by market conditions. Lease terms may include options to extend or terminate the lease when it is reasonably certain the Company will exercise that option. As of September 30, 2021, the Company had 12 operating leases and no financing leases. The components of lease expense were as follows:
| Three Months Ended | Nine Months Ended
(in 000's) | September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020
Operating lease expense | $ | 184 |  | $ | 191 |  | $ | 520 |  | $ | 570 |
Variable lease expense | 95 |  | 51 |  | 251 |  | 169 |
Total | $ | 279 |  | $ | 242 |  | $ | 771 |  | $ | 739 |
Supplemental balance sheet information related to leases was as follows:
(in 000's) | September 30, 2021
Operating cash flows from operating leases | $ | 508 |
ROU assets obtained in exchange for new operating lease liabilities | 285 |
Weighted-average remaining lease term in years for operating leases | 5.24
Weighted-average discount rate for operating leases | 5.14 | %
Maturities of lease liabilities were as follows:
(in 000's) | September 30, 2021
2022 | $ | 737 |
2023 | 742 |
2024 | 640 |
2025 | 450 |
2026 | 218 |
Thereafter | 469 |
Total undiscounted cash flows | 3,256 |
Less: present value discount | (404) |
Present value of net future minimum lease payments | $ | 2,852 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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