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LEASES (Notes)
3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
LEASES
 
 
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


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