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Note 7 - Premises, Equipment, and Leases | 12 Months Ended
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Dec. 31, 2021
Notes to Financial Statements |
Property, Plant and Equipment Disclosure [Text Block] | Note 7. Premises, Equipment, and Leases Premises and Equipment The following table presents the components of premises and equipment as of the dates indicated:
|  | December 31, |
|  | 2021 |  |  | 2020 |
(Amounts in thousands) |  |  |  |  |  |  |  |
Land |  | $ | 20,402 |  |  | $ | 21,693 |
Buildings and leasehold improvements |  |  | 48,118 |  |  |  | 50,639 |
Equipment |  |  | 40,501 |  |  |  | 40,072 |
Total premises and equipment |  |  | 109,021 |  |  |  | 112,404 |
Accumulated depreciation and amortization |  |  | (56,737 | ) |  |  | (54,704 | )
Total premises and equipment, net |  | $ | 52,284 |  |  | $ | 57,700 |
Impairment charges related to certain long-term investments in land and buildings totaled $781 thousand in 2021, $812 thousand in 2020, and $380 thousand in 2019. Depreciation and amortization expense for premises and equipment was $4.47 million in 2021, $4.46 million in 2020, and $3.45 million in 2019. Leases Effective January 1, 2019, the Company adopted ASU 2016-02, “Leases (Topic 842)”; the standard was adopted prospectively. The Company currently has two operating leases that are recorded as a right of use (“ROU”) asset and operating lease liability. The right of use asset is recorded in other assets on the consolidated balance sheet, while the lease liability is recorded in other liabilities. The ROU asset represents the right to use an underlying asset during the lease term and the lease liability represents the obligation to make lease payments arising from the lease. The current ROU asset and lease liability were recognized at the adoption date of January 1, 2019, based on the present value of the remaining lease payments using a discount rate that represented our incremental borrowing rate at the time of adoption. The lease expense which is comprised of the amortization of the ROU asset and the implicit interest accreted on the lease liability, is recognized on a straight-line basis over the lease term, and is recorded in occupancy expense in the consolidated statements of income. The Company’s current operating leases relate to one existing bank branch and the remaining two operating leases were acquired in separate bank acquisitions. Neither of the two acquired operating leases are for bank branches. One of the leases will terminate in early 2022; the remaining lease will terminate in July 2029. No ROU was recorded in the transaction due to the ROU asset related to the lease that terminates in 2022 being impaired as of the acquisition date; a lease liability was recorded for $82 thousand. The Company’s total operating leases have remaining terms of 4 months to 7.5 years. As of December 31, 2021, the Company’s ROU asset and lease liability were $741 thousand and $770 thousand, respectively. The weighted average discount rate was 3.22% for both 2021 and 2020. Future minimum lease payments as of the dates indicated are as follows:
Year |  | Amount |
(Amounts in thousands) |  |  |  |
2022 |  | $ | 131 |
2023 |  |  | 119 |
2024 |  |  | 117 |
2025 |  |  | 101 |
2026 and thereafter |  |  | 362 |
Total lease payments |  |  | 830 |
Less: Interest |  |  | (60 | )
Present value of lease liabilities |  | $ | 770 |
Lease expense was $182 thousand in 2021, $180 thousand in 2020, and $203 thousand in 2019. The Company maintained no subleases as of December 31, 2021.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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