LEASES (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Assets and Liabilities, Lessee

Leased branch properties at September 30, 2019 and December 31, 2018 consist of the following (in thousands):

	September 30, 2019			December 31, 2018
Operating lease right-of-use asset	$	8,592		$	—
Less: accumulated amortization	(541		)	—
Operating lease right-of-use-assets, net	$	8,051		$	—

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 September 30, 2019 (in thousands):

Year	Amount
2019	$	231
2020	932
2021	899
2022	831
2023	851
2024 and thereafter	6,091
Total minimum lease payments	9,835
Less: amount representing interest	(1,710		)
Present value of net minimum lease payments	$	8,125

Property, Plant and Equipment

The Corporation has included these leases in premises and equipment as of September 30, 2019 and December 31, 2018 as follows (in thousands):

	September 30, 2019			December 31, 2018
Buildings	$	5,572		$	5,572
Less: accumulated depreciation	(1,458		)	(1,208		)
Net book value	$	4,114		$	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 September 30, 2019 (in thousands):

Year	Amount
2019	$	92
2020	376
2021	388
2022	391
2023	391
2024 and thereafter	3,639
Total minimum lease payments	5,277
Less: amount representing interest	(1,137		)
Present value of net minimum lease payments	$	4,140