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Premises and Equipment
 12 Months Ended
Dec. 31, 2019
Property Plant And Equipment [Abstract]  
Premises and Equipment

Note 5 – Premises and Equipment

The major categories of banking premises and equipment and accumulated depreciation at December 31 are summarized below:

 

 

 

(In Thousands)

 

 

 

2019

 

 

2018

 

Land

 

$

6,951

 

 

$

5,917

 

Buildings (useful life 15-39 years)

 

 

28,845

 

 

 

24,489

 

Furnishings (useful life 3-15 years)

 

 

22,045

 

 

 

15,203

 

 

 

 

57,841

 

 

 

45,609

 

Less: Accumulated depreciation

 

 

(31,558

)

 

 

(22,997

)

Premises and Equipment (Net)

 

$

26,283

 

 

$

22,612

 

 

Depreciation expense for the years ended December 31, 2019, 2018 and 2017 amounted to $2.3, $1.7, and $1.6 million, respectively.

Construction in progress of $68 thousand as of December 31, 2019 related to Ft. Wayne, Indiana, a new branch to be opened in 2020.  Construction in progress of $3 thousand as of December 31, 2018, related to environmental and foundation study expenses incurred for this same construction project in Fort Wayne, Indiana.