PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2019

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT

NOTE 6 — PREMISES AND EQUIPMENT

Premises and equipment are summarized as follows as of December 31, 2019 and 2018 (dollars in thousands):

	Year Ended December 31,
	2019		2018
Furniture and Equipment (useful life of 3 to 7 years)	$	9,961	$	8,773
Furniture and Equipment in Process		2,175		—
Leasehold Improvements (useful life of 3 to 10 years)		11,092		11,387
Leasehold Improvements in Process		3,768		—
Total Premises and Equipment		26,996		20,160
Less accumulated depreciation and amortization		(14,896)		(13,283)
Total Premises and Equipment, net	$	12,100	$	6,877

Depreciation and amortization expense amounted to $1.6 million and $1.4 for the years ended December 31, 2019 and 2018, respectively.