

	Statement of Financial Condition Location	March 31, 2020			December 31, 2019
Operating Lease Right of Use Asset:
Gross carrying amount		$	6,694		$	—
New lease obligation		111			6,694
Accumulated amortization		(1,067		)	(848		)
Net carrying value	Other assets	$	5,738		$	5,846

Operating Lease Liabilities:
Right of use lease obligations	Other liabilities	$	5,738		$	5,846

Amortization expense was $219,000 and $212,000 for the three months ended March 31, 2020 and 2019, respectively. At March 31, 2020, the weighted-average remaining lease term for the operating leases was 8.7 years and the weighted-average discount rate used in the measurement of operating lease liabilities was 3.13%. The Company utilized the FHLB fixed rate advance rate for the term most closely aligning with the remaining lease term.



	For the Three Months Ended March 31,
	2020			2019
Lease cost:
Operating lease cost	$	219		$	212
Short-term lease cost	30			31
Sublease income	(18		)	(6		)
Total lease cost	$	231		$	237

Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	234		$	223

Future minimum payments under non-cancellable operating leases with terms longer than 12 months, are as follows at March 31, 2020:



Twelve months ended March 31,
2021	$	947
2022	967
2023	1,011
2024	828
2025	502
Thereafter	2,597
Total future minimum operating lease payments	6,852
Amounts representing interest	(1,114		)
Present value of net future minimum operating lease payments	$	5,738