XML 31 R16.htm IDEA: XBRL DOCUMENT v3.25.0.1
Property and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment

NOTE 5 – Property and Equipment

Property and equipment are stated at cost less accumulated depreciation. Components of property and equipment included in the consolidated balance sheets are as follows:

               
     
   December 31, 
(dollars in thousands)  2024   2023 
Land  $11,244    11,244 
Buildings    54,932    54,630 
Leasehold improvements    5,789    5,762 
Furniture and equipment    22,304    21,863 
Software   409    409 
Construction in process    56    130 
Accumulated depreciation and amortization   (26,547)   (21,907)
Property and equipment, excluding ROU assets   68,187    72,131 
ROU assets   20,607    22,170 
Total property and equipment   $88,794    94,301 

Construction in process at December 31, 2024 and 2023 consisted primarily of costs associated with information technology projects that will be completed in 2025. Depreciation and amortization expense for the years ended December 31, 2024 and 2023 was $4.7 million, respectively. Depreciation and amortization are charged to operations utilizing a straight-line method over the estimated useful lives of the assets. The estimated useful lives for the principal items follow:

    
Type of Asset  Life in Years 
Software   3 
Furniture and equipment   5 to 7 
Leasehold improvements   5 to 15 
Buildings   40