Annual report [Section 13 and 15(d), not S-K Item 405]

Note 5 - Premises and Equipment

v3.25.1
Note 5 - Premises and Equipment
12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

Note 5: Premises and Equipment

 

The components of premises and equipment as of December 31, 2024 and 2023, are as follows:

 

   

2024

   

2023

 
      (Dollars in thousands)  

Land and improvements

  $ 2,940     $ 2,940  

Building and improvements

    7,274       7,012  

Furniture and equipment

    1,477       1,424  

Total gross equipment

    11,691       11,376  

Less accumulated depreciation

    6,380       6,091  

Premises and equipment, net

  $ 5,311     $ 5,285  

 

Depreciation expense was $293,000 and $266,000 for the years ended December 31, 2024 and 2023, respectively.