Annual report pursuant to Section 13 and 15(d)

Note 7 - Premise and Equipment - Net

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Note 7 - Premise and Equipment - Net
 12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

NOTE 7 – PREMISES AND EQUIPMENT – NET

 

Year-end premises and equipment were as follows (dollars in thousands):

 

   

2023

    

2022

  

Land

   $ 15,556     $ 15,861  

Building

     45,016       44,879  

Leasehold improvements

     248       248  

Furniture and equipment

     17,878       18,055  

Construction in progress

     85       50  
      78,783       79,093  

Less accumulated depreciation

     (40,179 )     (38,787 )
    $ 38,604     $ 40,306  

 

Depreciation expense was $2.1 million and $2.3 million for 2023 and 2022, respectively.  These expenses were reported in Occupancy of premises and Furniture and equipment in the Company's Consolidated Statements of Income.