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Premises and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Premises and Equipment

Note 5 — Premises and Equipment

A summary of premises and equipment was as follows:

 

 

As of December 31,

 

 

2024

 

 

2023

 

 

(In Thousands)

 

Leasehold improvements

 

$

5,572

 

 

$

5,557

 

Furniture and equipment

 

 

9,480

 

 

 

9,361

 

Total premises and equipment

 

 

15,052

 

 

 

14,918

 

Less: accumulated depreciation

 

 

(9,825

)

 

 

(8,728

)

Total premises and equipment, net

 

$

5,227

 

 

$

6,190

 

 

Depreciation expense was $1.1 million, $961,000, and $578,000 for the years ended December 31, 2024, 2023, and 2022, respectively. During 2023, the Corporation relocated its Kansas City metropolitan office. This resulted in additional leasehold improvements and equipment of $1.3 million and $606,000, respectively. During 2022, the Corporation relocated its Southeastern Wisconsin office. This resulted in additional leasehold improvements and equipment of $1.8 million and $602,000, respectively.