Note 20 - Leasing Arrangements

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

NOTE

20

 – LEASING ARRANGEMENTS

The Corporation leases various branch facilities under operating leases. Rent expense wa

s

$314,000,

$158

,000,

and

$111,000

for the years

2019

,

2018

 and

2017

, respectively.  A right-of-use asset, included in other assets, and lease liability, included in other liabilities, were both 

$2,112,000

at December

31,

2019.

The following is a schedule of future minimum rental payments required under the facility leases as of

December 31, 2019

:

Year ending	Amount
December 31,	(in thousands)
2020	$	311
2021		281
2022		280
2023		282
2024		284
Thereafter		1,150
Total	$	2,588