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PREMISES & EQUIPMENT
12 Months Ended
Dec. 31, 2017
PREMISES & EQUIPMENT [Abstract]  
PREMISES & EQUIPMENT
5. PREMISES & EQUIPMENT
Premises and equipment at December 31, 2017 and 2016 are summarized as follows (in thousands):
 
 
 
December 31,
 
 
 
2017
  
2016
 
Land
 
$
5,110
  
$
5,110
 
Buildings
  
17,402
   
17,315
 
Furniture, fixtures and equipment
  
6,698
   
6,678
 
Construction in process
  
16
   
5
 
 
  
29,226
   
29,108
 
Less: accumulated depreciation
  
12,703
   
12,078
 
Premises and equipment, net
 
$
16,523
  
$
17,030
 
 
Depreciation expense amounted to $776,000, $763,000 and $608,000 for 2017, 2016 and 2015, respectively.