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Premises and Equipment | 12 Months Ended
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Dec. 31, 2024
Premises and Equipment |
Premises and Equipment | Note 7: Premises and Equipment ​ Premises and equipment are summarized as follows for the years ended December 31, 2024 and 2023:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Range of | ​ | December 31, | ​ | December 31,
(dollars in thousands) | ​ | Useful Lives |  | 2024 |  | 2023
Land | ​ | N/A | ​ | $ | 8,145 | ​ | $ | 8,119
Building | ​ | 15 - 39 Years | ​ |  | 43,580 | ​ |  | 41,266
Leasehold Improvements | ​ | 3 ‑ 10 Years | ​ |  | 2,022 | ​ |  | 1,951
Furniture and Equipment | ​ | 2 ‑ 5 Years | ​ |  | 6,411 | ​ |  | 6,544
Construction in Progress | ​ | N/A | ​ |  | 357 | ​ |  | —
Subtotal | ​ | ​ | ​ |  | 60,515 | ​ |  | 57,880
Accumulated Depreciation | ​ | ​ | ​ |  | (10,982) | ​ |  | (8,994)
Totals | ​ | ​ | ​ | $ | 49,533 | ​ | $ | 48,886
​ Depreciation and amortization expense charged to noninterest expense for the years ended December 31, 2024, 2023 and 2022, totaled $2.4 million, $2.5 million and $2.6 million, respectively. Construction in progress represents amounts paid for the construction of the Bank’s new branch building in Lake Elmo, Minnesota. Construction is expected to be completed in 2025.

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