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LEASES (Tables) | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Supplemental Balance Sheet Information | The following ROU assets and lease liabilities are reported within the Consolidated Statements of Condition as follows:
(In thousands) |  | December 31, 2023 |  | December 31, 2022
Operating Leases: |  |  |  |
ROU assets |  | $ | 2,615 |  |  | $ | 3,162 |
Lease liabilities |  | 2,615 |  |  | 3,162 |
Weighted average remaining lease term |  | 4.7 years |  | 5.0 years
Weighted average discount rate |  | 5.61 | % |  | 5.42 | %
Supplemental cash flow information related to operating leases for the years ended December 31:
(In thousands) | 2023 |  | 2022
Operating cash flows from operating leases | $ | 924 |  |  | $ | 964 |
As of December 31, 2023, the Corporation did not have any significant additional operating or finance leases that had not yet commenced.
Future Minimum Rental Payments | The following summarizes the remaining scheduled future minimum lease payments for operating leases as of December 31, 2023:
Year | (In thousands)
2024 | $ | 827 |
2025 | 785 |
2026 | 632 |
2027 | 428 |
2028 | 393
Thereafter | 367 |
Total minimum lease payments | 3,432 |
Less: amount representing interest (1) | 817 |
Present value of net minimum lease payments | $ | 2,615 |
_______________________________ (1) Amount necessary to reduce net minimum lease payments to present value calculated at the Corporation’s incremental borrowing rate.

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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