Premises and equipment are summarized as follows (in thousands): | | | | | | | | | Year Ended December 31, | | | 2021 | | 2020 | Furniture and Equipment (useful life of 3 to 7 years) | | $ | 12,078 | | $ | 12,343 | Furniture and Equipment in Process | | | 954 | | | — | Leasehold Improvements (useful life of 3 to 10 years) | | | 14,261 | | | 15,687 | Leasehold Improvements in Process | | | 2,005 | | | — | Total Premises and Equipment | | | 29,298 | | | 28,030 | Less accumulated depreciation and amortization | | | (14,182) | | | (14,555) | Total Premises and Equipment, net | | $ | 15,116 | | $ | 13,475 |
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