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PREMISES AND EQUIPMENT (Tables)
12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Schedule of Premises and Equipment Including Finance Lease Right of Use Assets

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

 

(In thousands)

 

2022

 

 

2021

 

Land and land improvements

 

$

6,853

 

 

$

6,947

 

Buildings

 

 

12,332

 

 

 

13,404

 

Furniture and equipment

 

 

25,484

 

 

 

24,285

 

Leasehold improvements

 

 

14,891

 

 

 

13,861

 

Projects in progress

 

 

1,046

 

 

 

187

 

 

 

 

60,606

 

 

 

58,684

 

Less: accumulated depreciation

 

 

36,775

 

 

 

35,640

 

Total

 

$

23,831

 

 

$

23,044

 

 

The following table presents finance lease right-of-use assets as of December 31,

 

(In thousands)

 

2022

 

 

2021

 

Land and buildings

 

$

11,237

 

 

$

11,237

 

Less: accumulated depreciation

 

 

8,402

 

 

 

7,655

 

Total

 

$

2,835

 

 

$

3,582

 

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, 2022:

 

(In thousands)

 

 

 

2023

 

$

1,456

 

2024

 

 

1,456

 

2025

 

 

939

 

2026

 

 

215

 

2027

 

 

226

 

Thereafter

 

 

903

 

Total minimum lease payments

 

 

5,195

 

Less: amount representing interest

 

 

499

 

Present value of net minimum lease payments

 

$

4,696