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PREMISES & EQUIPMENT | 12 Months Ended
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Dec. 31, 2020
PREMISES & EQUIPMENT [Abstract] |
PREMISES & EQUIPMENT | 6. PREMISES & EQUIPMENT Premises and equipment at December 31, 2020 and 2019 are summarized as follows (in thousands):
|  | December 31, |
|  | 2020 |  |  | 2019 |
Land |  | $ | 5,385 |  |  | $ | 5,110 |
Buildings |  |  | 19,373 |  |  |  | 17,835 |
Furniture, fixtures and equipment |  |  | 7,046 |  |  |  | 6,916 |
Construction in process |  |  | 147 |  |  |  | 192 |
|  |  | 31,951 |  |  |  | 30,053 |
Less: accumulated depreciation |  |  | 15,003 |  |  |  | 14,120 |
Premises and equipment, net |  | $ | 16,948 |  |  | $ | 15,933 |
Depreciation expense amounted to $921,000, $784,000 and $751,000 for 2020, 2019 and 2018, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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