PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT

Premises and equipment at December 31, 2020 and 2019 are as follows (in thousands):

	2020		2019
Land	$	4,803	$	4,803
Buildings	41,957		41,408
Projects in progress	65		113
Equipment and furniture	37,183		37,007
Leasehold improvements	5,285		5,757
	89,293		89,088
Less accumulated depreciation and amortization	69,174		66,671
Net book value	$	20,119	$	22,417

Depreciation expense was $2.9 million, $3.1 million and $3.4 million for 2020, 2019, and 2018, respectively.

Capital Leases

The Corporation leases certain buildings under capital leases. The lease arrangements require monthly payments through 2036.

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

	2020		2019
Buildings	$	5,572	$	5,572
Accumulated depreciation	(1,875)		(1,541)
Net book value	$	3,697	$	4,031