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Premises and Equipment | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Premises and Equipment | Note 5 – Premises and Equipment As of December 31, premises and equipment consisted of the following:
(Dollars in thousands) |  |  |  |  |  |
| 2023 |  |  | 2022 |  |
Land and land improvements | $ | 8,415 |  |  | $ | 8,327 |  |
Leasehold improvements |  | 81 |  |  |  | 81 |  |
Buildings |  | 29,635 |  |  |  | 26,823 |  |
Furniture and equipment |  | 12,558 |  |  |  | 11,208 |  |
Total cost |  | 50,689 |  |  |  | 46,439 |  |
Accumulated depreciation |  | (20,939 | ) |  |  | (18,207 | ) |
Premises and equipment, net | $ | 29,750 |  |  | $ | 28,232 |  |
Depreciation expense was $2.5 million, $2.7 million, and $2.6 million in 2023, 2022 and 2021, respectively. The Bank leases certain branch properties and automated-teller machine locations in its normal course of business. Rent expense totaled $327,000, $211,000, and $153,000 for 2023, 2022 and 2021, respectively. The associated right of use assets are included in the applicable categories of fixed assets in the above table and the net book value of such assets approximates the operating lease liability. Rent commitments under non-cancelable operating leases were as follows, before considering renewal options that generally are present (dollars in thousands):
| 2024 |  | $ | 314 |
| 2025 |  |  | 230 |
| 2026 |  |  | 168 |
| 2027 |  |  | 65 |
Total undiscounted cash flows |  |  | 777 |
Less discount |  |  | 68 |
Total operating lease liabilities |  | $ | 709 |

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