Atlantic Union Bankshares Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

LEASES (Tables)

3 Months Ended

Mar. 31, 2020

Maturities of operating lease liabilities as of March 31, 2020 are as follows for the years ending (dollars in thousands):


For the remaining nine months of 2020	$	9,714
2021		11,523
2022		10,545
2023		9,561
2024		8,232
2025		6,040
Thereafter		15,088
Total future lease payments		70,703
Less: Interest		6,533
Present value of lease liabilities	$	64,171

Other Lease Information

Other lease information is as follows as of March 31, 2020 and December 31, 2019 and for the three months ended March 31, 2020 and 2019 (dollars in thousands):


	March 31, 2020			December 31, 2019
Lease Term and Discount Rate of Operating leases:
Weighted-average remaining lease term (years)		7.20			7.36
Weighted-average discount rate ⁽¹⁾		2.56	%		2.69	%

	Three Months Ended March 31,
Cash paid for amounts included in measurement of lease liabilities:	2020			2019
Operating Cash Flows from Operating Leases	$	3,517		$	3,468
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		1,216			4,346

(1)

An incremental borrowing rate is used based on information available at commencement date of lease.