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LEASES (Tables) | 3 Months Ended
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Mar. 31, 2019
Leases [Abstract] |
Leases | The following table represents the classification of the Company's right of use and lease liabilities:
|  | Statement of Financial Condition Location |  | March 31, 2019 |
Operating Lease Right of Use Asset: |  |  |  |
Gross carrying amount |  |  |  | $ | 6,694 |
Accumulated amortization |  |  |  | (212 | )
Net book value |  | Other assets |  | $ | 6,482 |
Operating Lease Liabilities: |  |  |  |
Right of use lease obligations |  | Other liabilities |  | $ | 6,482 |
For the three months ended March 31, 2019, the weighted-average remaining lease term for operating was 9.50 years and the weighted-average discount rate used in the measurement of operating lease liabilities was 3.16%. The Company utilized the FHLB fixed rate advance rate as of January 1, 2019 for the term most closely aligning with the remaining lease term.
|  | Three Months Ended March 31,
Lease cost: |  |
Operating lease cost |  | $ | 212 |
Short-term lease cost |  | 31 |
Sublease income |  | (6 | )
Total lease cost |  | $ | 237 |
Other information: |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |
Operating cash flows from operating leases |  | $ | 223 |
Operating Lease, Liability | Future minimum payments under non-cancellable operating leases with terms longer than 12 months, are as follows at March 31, 2019:
Twelve months ended March 31, |  |
2020 |  | $ | 892 |
2021 |  | 910 |
2022 |  | 930 |
2023 |  | 977 |
2024 |  | 827 |
Thereafter |  | 3,099 |
Total future minimum operating lease payments |  | 7,635 |
Amounts representing interest |  | (1,153 | )
Present value of net future minimum operating lease payments |  | $ | 6,482 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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