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Lease Obligations | 9 Months Ended
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Sep. 30, 2020
Lease Obligations [Abstract] |
Lease Obligations | Note 13 – Lease Obligations The Company leases 28 of our offices under various operating lease agreements. The leases have remaining terms of one year to 12 years. The leases contain provisions for the payment by the Company of its pro-rata share of real estate taxes, insurance, common area maintenance and other variable expenses. The Company will allocate payments made under such leases between lease and non-lease components. Some leases contain renewal options and options to purchase the assets. The Company has elected not to recognize a lease liability and a right of use asset for leases with a lease term of 12 or fewer months. The following tables present certain information related to the Company’s leases (in thousands):
|  | Three Months Ended September 30, 2020 |  | Three Months Ended September 30, 2019 |  | Nine Months Ended September 30, 2020 |  | Nine Months Ended September 30, 2019
Operating lease cost | $ | 850 | $ | 812 | $ | 2,559 | $ | 2,374
Variable lease cost-operating leases | $ | 201 | $ | 132 | $ | 599 | $ | 440
|  | At September 30, 2020 |  | At December 31, 2019 |  |  |  |
Supplemental balance sheet information related to leases: |  |  |  |  |  |  |  |
Operating Leases |  |  |  |  |  |  |  |
Operating lease right-of-use assets | $ | 15,798 | $ | 13,246 |  |  |  |
Current liabilities | $ | 3,054 | $ | 2,590 |  |  |  |
Operating lease liabilities (noncurrent portion) |  | 12,950 |  | 10,790 |  |  |  |
Total operating lease liabilities | $ | 16,004 | $ | 13,380 |  |  |  |
The weighted average remaining lease term for operating leases at September 30, 2020 and December 31, 2019 was 6.68 years and 6.69 years, respectively. The weighted average discount rate for operating leases at September 30, 2020 and December 31, 2019 was 2.67 percent and 3.16 percent, respectively. The following table summarizes the Company’s maturity of lease obligations for operating leases at September 30, 2020 and December 31, 2019 (in thousands):
Maturities of lease liabilities:
|  | At September 30, 2020 |  |  | At December 31, 2019
|  | Operating Leases |  |  | Operating Leases
One year or less | $ | 3,054 |  | $ | 2,590
Over one year through three years |  | 5,131 |  |  | 4,713
Over three years through five years |  | 3,341 |  |  | 2,736
Over five years |  | 4,478 |  |  | 3,341
Total | $ | 16,004 |  | $ | 13,380

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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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