Leases

6 Months Ended

Jun. 30, 2022

Note 14: Leases

The Company has operating and finance leases for certain banking offices and land under noncancelable agreements. Our leases have remaining lease terms that vary from less than two years up to 30 years, some of which include options to extend the leases for various renewal periods. All options to renew are included in the current lease term when we believe it is reasonably certain that the renewal options will be exercised.

The components of lease expense are as follows:


	For the three months ended				For the six months ended
(In thousands)	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Operating lease cost	$	57	$	57	$	113	$	113
Finance lease cost		21		21		41		41

Supplemental cash flow information related to leases was as follows:


	For the three months ended				For the six months ended
(In thousands)	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Cash paid for amount included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	52	$	51	$	105	$	103
Operating cash flows from finance leases		21		21		41		41
Financing cash flows from finance leases		18		18		37		36

Supplemental balance sheet information related to leases was as follows:



(In thousands, except lease term and discount rate)	June 30, 2022			December 31, 2021
Operating Leases:
Operating lease right-of-use assets	$	2,067		$	2,136
Operating lease liabilities	$	2,379		$	2,440

Finance Leases:
Finance Lease Liability	$	601		$	596

Weighted Average Remaining Lease Term:
Operating Leases	18.03 years			18.29 years
Finance Leases	26.92 years			27.42 years

Weighted Average Discount Rate:
Operating Leases		3.74	%		3.73	%
Finance Leases		13.75	%		13.75	%

Maturities of lease liabilities were as follows:


Twelve Months Ending June 30,
(In thousands)
2023	$	56
2024		118
2025		119
2026		126
2027		133
Thereafter		2,428
Total minimum lease payments	$	2,980

The Company owns certain properties that it leases to unaffiliated third parties at market rates. Lease rental income was $47,000 and $62,000 for the three months ended June 30, 2022 and 2021 respectively. Lease rental income was $102,000 and $125,000 for the six months ended June 30, 2022 and 2021, respectively. All lease agreements, in which the Company is the lessor, are accounted for as operating leases.