Premises and Equipment

3 Months Ended

Mar. 31, 2020

Premises and Equipment

Premises and Equipment

Note 5: Premises and Equipment

Premises and equipment are summarized as follows as of March 31, 2020 and December 31, 2019:

	Range of	March 31,		December 31,
	Useful Lives	2020		2019
Land	N/A	$	5,174	$	5,174
Building	15 - 39 Years		3,487		3,487
Leasehold Improvements	3 ‑ 10 Years		3,344		3,344
Furniture and Equipment	3 ‑ 5 Years		4,838		3,902
Construction in Progress	N/A		23,586		16,693
Subtotal			40,429		32,600
Accumulated Depreciation			(5,158)		(4,972)
Totals		$	35,271	$	27,628

Depreciation and amortization expense charged to noninterest expense for the three months ended March 31, 2020 and 2019, totaled $187 and $210, respectively. Construction in progress represents amounts paid for the construction of the Company’s new corporate headquarters building. Construction is expected to be completed in the third quarter of 2020.