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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

The major categories of banking premises and equipment and accumulated depreciation at December 31 are summarized below:

 

 

 

(In Thousands)

 

 

 

2024

 

 

2023

 

Land

 

$

6,803

 

 

$

6,838

 

Buildings (useful life 15-39 years)

 

 

41,306

 

 

 

40,831

 

Furnishings (useful life 3-15 years)

 

 

31,378

 

 

 

30,425

 

 

 

79,487

 

 

 

78,094

 

Less: Accumulated depreciation

 

 

(45,659

)

 

 

(42,304

)

Premises and Equipment (Net)

 

$

33,828

 

 

$

35,790

 

 

Depreciation expense for the years ended December 31, 2024, 2023 and 2022 amounted to $3.8, $3.4 and $2.7 million, respectively.

 

At the end of 2023, construction in progress was $8 thousand for a new Loan Production Office (LPO) which was operational in December 2024.