LEASES (Tables)

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Assets and Liabilities, Lessee

Leased branch properties at March 31, 2020 and December 31, 2019 consist of the following (in thousands):

	March 31, 2020			December 31, 2019
Operating lease right-of-use asset	$	8,713		$	8,713
Less: accumulated amortization	(887		)	(712		)
Operating lease right-of-use-assets, net	$	7,826		$	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 March 31, 2020 (in thousands):

Year	Amount
2020	$	700
2021	930
2022	869
2023	889
2024	880
2025 and thereafter	5,347
Total minimum lease payments	9,615
Less: amount representing interest	(1,696		)
Present value of net minimum lease payments	$	7,919

Property, Plant and Equipment

The Corporation has included these leases in premises and equipment as of March 31, 2020 and December 31, 2019 as follows (in thousands):

	March 31, 2020			December 31, 2019
Buildings	$	5,572		$	5,572
Less: accumulated depreciation	(1,625		)	(1,541		)
Net book value	$	3,947		$	4,031

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, 2020 (in thousands):

Year	Amount
2020	$	284
2021	388
2022	391
2023	391
2024	391
2025 and thereafter	3,248
Total minimum lease payments	5,093
Less: amount representing interest	(1,065		)
Present value of net minimum lease payments	$	4,028