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PREMISES AND EQUIPMENT (Tables)
12 Months Ended
Dec. 31, 2019
Property Plant And Equipment [Abstract]  
Schedule of Premises and Equipment Including Capital Leases

The following table presents premises and equipment as of December 31,

 

(In thousands)

 

2019

 

 

2018

 

Land and land improvements

 

$

6,332

 

 

$

6,243

 

Buildings

 

 

12,741

 

 

 

12,653

 

Furniture and equipment

 

 

21,594

 

 

 

20,644

 

Leasehold improvements

 

 

12,228

 

 

 

11,943

 

Projects in progress

 

 

475

 

 

 

145

 

Capital lease asset

 

 

 

 

 

11,237

 

 

 

 

53,370

 

 

 

62,865

 

Less: accumulated depreciation

 

 

32,457

 

 

 

35,457

 

Total

 

$

20,913

 

 

$

27,408

 

 

The Company has classified capital leases as a finance lease right-of-use asset under the new lease guidance for 2019.  Capital leases were including in premises and equipment for 2018.

 

The following table presents capital leases as of December 31,

 

(In thousands)

 

2019

 

 

2018

 

Land and buildings

 

$

11,237

 

 

$

11,237

 

Less: accumulated depreciation

 

 

6,159

 

 

 

5,411

 

Total

 

$

5,078

 

 

$

5,826

 

Schedule of Future Minimum Lease Payments Under Finance Lease Right-of-Use Asset

The following is a schedule by year of future minimum lease payments under finance lease right-of-use asset, together with the present value of net minimum lease payments as of December 31, 2019:

 

(In thousands)

 

 

 

 

2020

 

$

1,195

 

2021

 

 

1,233

 

2022

 

 

1,391

 

2023

 

 

1,456

 

2024

 

 

1,456

 

Thereafter

 

 

2,283

 

Total minimum lease payments

 

 

9,014

 

Less: amount representing interest

 

 

1,416

 

Present value of net minimum lease payments

 

$

7,598