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Premises and Equipment
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Premises and Equipment
7.
PREMISES AND EQUIPMENT

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

 

 

 

December 31,

 

 

 

2023

 

 

2022

 

 

 

(Dollars in Thousands)

 

Land

 

$

5,390

 

 

$

5,390

 

Premises

 

 

24,798

 

 

 

24,880

 

Furniture, fixtures and equipment

 

 

16,065

 

 

 

15,792

 

Construction in progress

 

 

159

 

 

 

—

 

Total cost of premises and equipment

 

 

46,412

 

 

 

46,062

 

Less accumulated depreciation

 

 

(22,014

)

 

 

(21,623

)

Total premises and equipment, net

 

$

24,398

 

 

$

24,439

 

 

Depreciation expense of $1.6 million was recorded in both 2023 and 2022.