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PREMISES AND EQUIPMENT
12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
PREMISES AND EQUIPMENT PREMISES AND EQUIPMENT
Premises and equipment at December 31, 2021 and 2020 are as follows (in thousands):
 20212020
Land$4,710 $4,803 
Buildings40,726 41,957 
Projects in progress65 
Equipment and furniture37,183 37,183 
Leasehold improvements5,318 5,285 
 87,942 89,293 
Less accumulated depreciation and amortization69,973 69,174 
Net book value$17,969 $20,119 

Depreciation expense was $2.5 million and $2.9 million for 2021 and 2020, respectively.

Capital Leases

The Corporation leases certain buildings under capital leases. The lease arrangements require monthly payments through 2036.

The Corporation has included these leases in premises and equipment as follows:
 20212020
Buildings$5,572 $5,572 
Accumulated depreciation(2,208)(1,875)
Net book value$3,364 $3,697