Annual report pursuant to Section 13 and 15(d)

PREMISES AND EQUIPMENT - NET

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PREMISES AND EQUIPMENT - NET
 12 Months Ended
Dec. 31, 2021
PREMISES AND EQUIPMENT - NET [Abstract]  
PREMISES AND EQUIPMENT - NET
NOTE 7 – PREMISES AND EQUIPMENT – NET
 
Year-end premises and equipment were as follows (dollars in thousands):

   
2021
    
2020
  
Land
  
$
15,861
    
$
15,861
  
Building
    
44,701
      
44,685
  
Leasehold improvements
    
253
      
263
  
Furniture and equipment
    
21,732
      
21,483
  
Construction in progress
    
—
      
16
  
     
82,547
      
82,308
  
Less accumulated depreciation
    
(40,774
)
    
(39,054
)
   
$
41,773
    
$
43,254
  

Depreciation expense was $2.5 million and $2.4 million for 2021 and 2020, respectively.