LEASES (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Assets and Liabilities, Lessee

Leased branch properties at March 31, 2019 and December 31, 2018 consist of the following (in thousands):

	March 31, 2019			December 31, 2018
Operating lease right-of-use asset	$	8,550		$	—
Less: accumulated amortization	(159		)	—
Operating lease right-of-use-assets, net	$	8,391		$	—

Lessee, Operating Lease, Liability, Maturity

The following is a schedule by year of the undiscounted cash flows of the operating lease liabilities, excluding CAM charges, as of March 31, 2019 (in thousands):

Year	Amount
2019	$	686
2020	932
2021	899
2022	831
2023	851
2024 and thereafter	6,090
Total minimum lease payments	10,289
Less: amount representing interest	(1,890		)
Present value of net minimum lease payments	$	8,399

Property, Plant and Equipment

The Corporation has included these leases in premises and equipment as of March 31, 2019 and December 31, 2018 as follows (in thousands):

	March 31, 2019			December 31, 2018
Buildings	$	5,572		$	5,572
Less: accumulated depreciation	(1,291		)	(1,208		)
Net book value	$	4,281		$	4,364

Finance Lease, Liability, Maturity

The following is a schedule by year of future minimum lease payments under the capitalized lease, together with the present value of net minimum lease payments as of March 31, 2019 (in thousands):

Year	Amount
2019	$	276
2020	376
2021	388
2022	391
2023	391
2024 and thereafter	3,639
Total minimum lease payments	5,461
Less: amount representing interest	(1,211		)
Present value of net minimum lease payments	$	4,250