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Note 7 - Premises and Equipment
 12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

NOTE 7 - PREMISES AND EQUIPMENT

 

A summary of premises and equipment as of December 31, 2023 and 2022 follows:

 

(dollars in thousands)

 

2023

  

2022

 

Land

 $8,974  $8,974 

Building and improvements

  15,549   15,523 

Furniture, fixtures, and equipment

  8,411   8,339 

Leasehold improvements

  7,696   6,775 
   40,630   39,611 

Less accumulated depreciation and amortization

  (14,949)  (13,387)

Construction in progress

  3   785 
  $25,684  $27,009 

 

Depreciation and leasehold amortization expense was $2.0 million, $2.0 million, and $1.9 million for 2023, 2022, and 2021, respectively.

 

A $32,000 gain on sale of fixed assets was recorded from the sale of an automobile during 2023. A $757,000 gain on sale of fixed assets was recorded from the sale of a real estate asset during 2022, which was used to house staff while traveling.