PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2021

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT

NOTE 6 — PREMISES AND EQUIPMENT

Premises and equipment are summarized as follows (in thousands):

	Year Ended December 31,
	2021		2020
Furniture and Equipment (useful life of 3 to 7 years)	$	12,078	$	12,343
Furniture and Equipment in Process		954		—
Leasehold Improvements (useful life of 3 to 10 years)		14,261		15,687
Leasehold Improvements in Process		2,005		—
Total Premises and Equipment		29,298		28,030
Less accumulated depreciation and amortization		(14,182)		(14,555)
Total Premises and Equipment, net	$	15,116	$	13,475

Depreciation and amortization expense amounted to $2.4 million and $2.5 for the years ended December 31, 2021 and 2020, respectively.