LEASES (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Assets and Liabilities, Lessee

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

	December 31, 2019			December 31, 2018
Operating lease right-of-use asset	$	8,713		$	—
Less: accumulated amortization	(712		)	—
Operating lease right-of-use-assets, net	$	8,001		$	—

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 December 31, 2019 (in thousands):

Year	Amount
2020	$	932
2021	930
2022	869
2023	889
2024	880
2025 and thereafter	5,348
Total minimum lease payments	9,848
Less: amount representing interest	(1,764		)
Present value of net minimum lease payments	$	8,084

Property, Plant and Equipment

The Corporation has included these leases in premises and equipment as follows:

	2019			2018
Buildings	$	5,572		$	5,572
Accumulated depreciation	(1,541		)	(1,208		)
Net book value	$	4,031		$	4,364

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

	2019		2018
Land	$	4,803	$	4,803
Buildings	41,408		41,332
Projects in progress	113		31
Equipment and furniture	37,007		38,008
Leasehold improvements	5,757		6,174
	89,088		90,348
Less accumulated depreciation and amortization	66,671		65,368
Net book value	$	22,417	$	24,980

The Corporation has included these leases in premises and equipment as of December 31, 2019 and December 31, 2018.

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 December 31, 2019 (in thousands):

Year	Amount
2020	$	376
2021	388
2022	391
2023	391
2024	391
2025 and thereafter	3,248
Total minimum lease payments	5,185
Less: amount representing interest	(1,100		)
Present value of net minimum lease payments	$	4,085