Premises and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Premises and Equipment

NOTE 6 — Premises and Equipment

Premises and equipment are stated at cost less accumulated depreciation and are summarized as follows:

	As of December 31,
	2020		2019
Land	$	863	$	863
Buildings		7,845		7,829
Leasehold improvements		209		633
Furniture and equipment		5,929		6,343
Totals		14,846		15,668
Less: Accumulated depreciation		8,571		8,987
Premises and equipment, net	$	6,275	$	6,681

Depreciation of premises and equipment totaled $661 and $695 for the years ended December 31, 2020 and 2019, respectively.

There was no impairment of premises and equipment during the year ended December 31, 2020. The Company had impairment on premises and equipment of $90 during the year ended December 31, 2019. The impairment loss was taken on a building held for sale, which was transferred to other assets on the balance sheet at December 31, 2019.

The Company leases premises from nonrelated entities. Rent expense under these non-cancelable leases totaled $93 and $223 for the years ended December 31, 2020 and 2019, respectively.

As of December 31, 2020, the Company has $20 in future minimum rental commitments under non-cancelable leases, before considering available renewal options, to be paid during the first quarter of 2021.