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Premises and Equipment (Tables)
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
Premises and Equipment
Premises and equipment are carried at cost and consist of the following:
As of December 31,20212020
Land$6,159,000 $6,178,000 
Land improvements1,788,000 1,710,000 
Buildings30,685,000 28,067,000 
Equipment11,807,000 11,878,000 
50,439,000 47,833,000 
Less accumulated depreciation21,490,000 20,582,000 
Total premises and equipment$28,949,000 $27,251,000 
Schedule of Anticipated Rental Revenue
Future minimum receipts under lease agreements at December 31, 2021 by year and in the aggregate are:
2022$129,000 
202345,000 
202420,000 
20254,000 
20264,000 
Thereafter19,000 
$221,000 
Right-of-use Asset and Lease Liability
The right‑of‑use asset and lease liability by lease type, and the associated balance sheet classifications as of December 31, 2021 and 2020 were as follows:

Balance Sheet Classification
20212020
Right-of-use assets:
Operating leasesPremises and equipment, net$822,000$511,000
Lease liabilities:
Operating leasesOther liabilities$822,000$511,000
Future Lease Payments for Operating Leases
Future lease payments for operating leases with initial terms of one year or more as of December 31, 2021 are as follows:

2022$97,000
202397,000 
202497,000 
202597,000 
202691,000 
Thereafter459,000 
Total undiscounted lease payments938,000 
Less: imputed interest116,000 
Net lease liability$822,000