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Note 4 - Premises and Equipment, Net
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

NOTE 4 - PREMISES AND EQUIPMENT, NET

 

Year-end premises and equipment were as follows:

 

  

2020

  

2019

 
         

Land and improvements

 $16,533,000  $17,039,000 

Buildings

  56,114,000   52,847,000 

Furniture and equipment

  21,522,000   22,712,000 
   94,169,000   92,598,000 

Less: accumulated depreciation

  35,210,000   35,271,000 
         

Total premises and equipment

 $58,959,000  $57,327,000 

 

Future lease payments at December 31, 2020 totaled $3.4 million, comprised of $0.6 million in one year, $1.2 million in one to three years, $0.5 million in three to five years and $1.1 million in over five years. Future lease payments at December 31, 2019 totaled $3.8 million, comprised of $0.6 million in one year, $1.1 million in one to three years, $0.9 million in three to five years and $1.2 million in over five years. Depreciation expense totaled $5.2 million in 2020, $3.9 million in 2019, and $3.6 million in 2018.