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Premises and Equipment | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Premises and Equipment | Premises and Equipment At December 31, 2023 and 2022, premises and equipment consisted of the following:
(In thousands) | December 31,
| 2023 |  | 2022
Land | $ | 12,819 |  |  | $ | 12,819 |
Buildings | 19,046 |  |  | 19,046 |
Leasehold Improvements | 3,077 |  |  | 3,058 |
Furniture, equipment, and software | 13,031 |  |  | 12,674 |
Construction-in-progress | 65 |  |  | 69 |
Premises and equipment, gross | 48,038 |  |  | 47,666 |
Accumulated depreciation and amortization | (18,163) |  |  | (17,025) |
Premises and equipment, net | $ | 29,875 |  |  | $ | 30,641 |
For the years ended December 31, 2023, 2022 and 2021, depreciation and amortization expense related to premises and equipment totaled $1.2 million, $1.3 million, and $1.4 million, respectively. In 2021, the Bank sold a building located in the City New Haven, Connecticut for cash proceeds of $1.5 million, and recognized a gain of $550,000, which is included in other income of the consolidated statements of operations. No property was sold in 2023 and 2022.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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