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Premises and Equipment
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Premises and Equipment
8.
PREMISES AND EQUIPMENT

Premises and equipment and applicable depreciable lives are summarized as follows:

 

 

 

December 31,

 

 

 

2022

 

 

2021

 

 

 

(Dollars in Thousands)

 

Land

 

$

5,390

 

 

$

5,486

 

Premises (40 years)

 

 

24,880

 

 

 

25,924

 

Furniture, fixtures and equipment (3-7 years)

 

 

15,792

 

 

 

15,629

 

Total cost of premises and equipment

 

 

46,062

 

 

 

47,039

 

Less accumulated depreciation

 

 

(21,623

)

 

 

(21,916

)

Total premises and equipment, net

 

$

24,439

 

 

$

25,123

 

 

Depreciation expense of $1.6 million and $1.7 million was recorded in 2022 and 2021, respectively.