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Note 13 - Leases | 3 Months Ended
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Mar. 31, 2019
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] |
13. | LEASES
The Bank and ALC are involved in a number of operating leases, primarily for branch locations. Branch leases have remaining lease terms ranging from less than one year to 15 years, some of which include options to extend the leases for up to five years, and some of which include an option to terminate the lease within one year. The Bank leases certain office facilities to third parties and classifies these leases as operating leases. The following table provides a summary of the components of lease expense, as well as the reporting location in the Condensed Consolidated Statements of Operations for the three months ended March 31, 2019 and 2018:
|  |  | Location in the Condensed |  |  | Three Months Ended |
|  |  | Consolidated Statements of Operations |  |  | March 31, 2019 |  |  | March 31, 2018 |
|  |  |  |  |  | (Dollars in Thousands) |
Operating lease expense (1) |  |  | Net occupancy and equipment |  |  | $ | 210 |  |  | $ | 158 |
Operating lease income (2) |  |  | Other income, net |  |  | $ | 209 |  |  | $ | 34 |
( 1 ) Includes short-term lease costs. For both of the three month periods ended March 31, 2019 and 2018, short-term lease costs were nominal in amount. ( 2 ) Operating lease income includes rental income from owned properties. The following table provides supplemental lease information for operating leases on the Condensed Consolidated Balance Sheet as of March 31, 2019:
|  |  | Location in the Condensed |  |  |
|  |  | Consolidated Balance Sheet |  |  | March 31, 2019 |
|  |  |  |  |  | (Dollars in Thousands) |
Operating lease right-of-use assets |  |  | Other assets |  |  | $ | 3,945 |
Operating lease liabilities |  |  | Other liabilities |  |  | $ | 3,953 |
Weighted-average remaining lease term (in years) |  |  |  |  |  |  | 7.53 |
Weighted-average discount rate |  |  |  |  |  |  | 3.19 | %
The following table provides supplemental lease information for the Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2019 and 2018:
|  |  | Three Months Ended
|  |  | March 31, 2019 |  |  | March 31, 2018 |
|  |  | (Dollars in Thousands) |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 192 |  |  | $ | 115 |
The following table is a schedule of remaining future minimum lease payments for operating leases that had an initial or remaining non-cancellable lease term in excess of one year as of March 31, 2019:
|  | Minimum Rental Payments |
|  | (Dollars in Thousands) |
2019 |  | $ | 564 |
2020 |  |  | 677 |
2021 |  |  | 574 |
2022 |  |  | 512 |
2023 |  |  | 453 |
2024 and thereafter |  |  | 1,714 |
Total future minimum lease payments |  | $ | 4,494 |
Less: Imputed interest |  |  | 541 |
Total operating lease liabilities |  | $ | 3,953 |

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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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