Premises and Equipment

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Premises and Equipment

Note 5 – Premises and Equipment

The major categories of banking premises and equipment and accumulated depreciation at December 31 are summarized below:

	(In Thousands)
	2020			2019
Land	$	6,951		$	6,951
Buildings (useful life 15-39 years)		30,124			28,845
Furnishings (useful life 3-15 years)		20,947			22,045
		58,022			57,841
Less: Accumulated depreciation		(30,959	)		(31,558	)
Premises and Equipment (Net)	$	27,063		$	26,283

Depreciation expense for the years ended December 31, 2020, 2019, and 2018 amounted to $2.5, $2.3, and $1.7 million, respectively.

Construction in progress was zero as of December 31, 2020. At the end of 2019, construction in progress was $68 thousand for a new Fort Wayne Indiana branch to be opened in 2021.