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LEASES (Tables)
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Schedule of Assets and Liabilities
The following table shows finance lease right of use assets and finance lease liabilities as of December 31, 2023:
(In Thousands)Statement of Financial Condition classificationDecember 31, 2023December 31, 2022
Finance lease right of use assetsPremises and equipment, net$6,576 $7,006 
Finance lease liabilitiesLong-term borrowings7,598 7,783 
Schedule of Lease Cost, Term and Discount Rate
The following table shows the components of finance and operating lease expense for the year ended December 31, 2023.
(In Thousands)202320222021
 
Finance Lease Cost:
Amortization of right-of-use asset$429 $429 $474 
Interest expense241 244 257 
Operating lease cost287 285 297 
Total Lease Cost$957 $958 $1,028 
The following table shows the weighted average remaining lease term and weighted average discount rate for both operating and finance leases outstanding as of December 31, 2023.
OperatingFinance
Weighted-average term (years)16.3122.52
Weighted-average discount rate3.56 %3.21 %
Schedule of Operating Lease Liability Maturities
A maturity analysis of operating and finance lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows:
(In Thousands)OperatingFinance
2024$255 $427 
2025257 929 
2026260 387 
2027268 388 
2028271 390 
2029 and thereafter2,029 8,498 
Total undiscounted cash flows3,340 11,019 
Discount on cash flows(770)(3,421)
Total lease liability$2,570 $7,598 
Schedule of Finance Lease Liability Maturities
A maturity analysis of operating and finance lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liability is as follows:
(In Thousands)OperatingFinance
2024$255 $427 
2025257 929 
2026260 387 
2027268 388 
2028271 390 
2029 and thereafter2,029 8,498 
Total undiscounted cash flows3,340 11,019 
Discount on cash flows(770)(3,421)
Total lease liability$2,570 $7,598