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Premises and Equipment
 12 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract]  
Leasehold Improvements and Equipment Premises and Equipment
A summary of premises and equipment was as follows: 
 As of December 31,
 20202019
 (In Thousands)
Leasehold improvements$2,670 $2,670 
Furniture and equipment6,961 6,718 
Total premises and equipment9,631 9,388 
Less: accumulated depreciation(7,633)(6,831)
Total premises and equipment, net$1,998 $2,557 
Depreciation expense was $822,000 and $877,000 for the years ended December 31, 2020 and 2019, respectively.