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PREMISES AND EQUIPMENT
 6 Months Ended
Jun. 30, 2018
Property, Plant and Equipment [Abstract]  
Premises and Equipment
NOTE 6 – 
PREMISES AND EQUIPMENT
 
Premises and equipment consisted of the following as of June 30, 2018 and December 31, 2017:
 
 
 
2018
 
 
2017
 
 
 
 
 
 
 
 
Premises owned
 
$
7,286
 
 
$
7,276
 
Write-down on premises owned
 
 
(600
)
 
 
-
 
Net premises owned
 
 
6,686
 
 
 
7,276
 
Leasehold improvements
 
 
1,555
 
 
 
1,271
 
Furniture, fixtures and equipment
 
 
3,077
 
 
 
2,939
 
Less accumulated depreciation and amortization
 
 
(3,545
)
 
 
(3,087
)
Total premises and equipment, net
 
$
7,773
 
 
$
8,399
 
 
Depreciation and amortization included in occupany and equipment expense for the three months ended June 30, 2018 was $230,000 compared to $182,000 for the three months ended June 30, 2017. The expense for the six months ended June 30, 2018 and June 30, 2017 totaled $466,000 and $307,000, respectively.
 
The Company leases sixteen of its branches and administration offices under noncanceable operating leases. The leases expire on various dates through 2025. All leases have an option to renew with renewal periods between three to twelve years. 
Future minimum lease payments are as follows:
 
Year Ending December 31,
 
 
 
 
 
 
 
 
 
2018
 
$
1,033
 
2019
 
 
2,050
 
2020
 
 
1,691
 
2021
 
 
1,448
 
2022
 
 
1,278
 
        Thereafter
 
 
1,105
 
Total
 
$
8,605