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Premises and Equipment
 12 Months Ended
Dec. 31, 2023
Common Stock  
Premises and Equipment

(4) Premises and Equipment

 

Major classifications of premises and equipment at December 31, 2023 and 2022 are summarized as follows:

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 2023

 

 

 2022

 

 

 

 

 

 

 

 

Land

 

$4,373

 

 

 

3,851

 

Buildings and improvements

 

 

19,054

 

 

 

18,371

 

Furniture and equipment

 

 

20,607

 

 

 

26,156

 

Construction in process

 

 

532

 

 

 

3,028

 

 

 

 

 

 

 

 

 

 

Total premises and equipment

 

 

44,566

 

 

 

51,406

 

 

 

 

 

 

 

 

 

 

Less accumulated depreciation

 

 

(27,864)

 

 

(33,201)

 

 

 

 

 

 

 

 

 

Total net premises and equipment

 

$16,702

 

 

 

18,205

 

 

The Bank recognized depreciation expense totaling $2.2 million, $2.4 million and $2.6 million for the years ended December 31, 2023, 2022 and 2021, respectively.

 

The Bank had $184,000 net gains on the sale of and write-downs on premises and equipment for the year ended December 31, 2023. The Bank had $85,000 net losses on the sale of and write-downs on premises and equipment for the year ended December 31, 2022. The Bank had $105,000 net gains on the sale of and write-downs on premises and equipment for the year ended December 31, 2021.