XML 35 R15.htm IDEA: XBRL DOCUMENT v3.24.1
PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

Note 6—PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following:

         
   December 31, 
(Dollars in thousands)  2023   2022 
Land  $9,804   $9,804 
Premises   28,708    28,684 
Equipment   8,203    7,900 
Fixed assets in progress   14    90 
Property and equipment, gross   46,729    46,478 
Accumulated depreciation   16,140    15,201 
Property and Equipment Net  $30,589   $31,277 

 

Depreciation expense included in operating expenses for the years ended December 31, 2023, 2022 and 2021 amounted to $1.8 million, $1.6 million, and $1.7 million, respectively.

 

As of December 31, 2023 and December 31, 2022 there were no premises held-for-sale. There was no gain or loss on premises held-for-sale during the year ended December 31, 2023. During the year ended December 31, 2022, the Company sold a warehouse that had previously been used for storage. Loss on premises held-for-sale was $73 thousand for the year ended December 31, 2022. There was no gain or loss on sale of fixed assets was for the year ended December 31, 2023 and loss on sale of fixed assets was $45 thousand for the year ended December 31, 2022.