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PREMISES AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
PREMISES AND EQUIPMENT, NET PREMISES AND EQUIPMENT, NET
The following presents a summary of the cost and accumulated depreciation of premises and equipment as December 31 (dollars in thousands):
20222021
Building and building improvements$12,190 $12,190 
Leasehold improvements, including artwork12,879 11,464 
Land4,980 4,980 
Equipment and software5,815 6,144 
Gross premise and equipment35,864 34,778 
Less: accumulated depreciation(10,746)(10,802)
Premises and equipment, net$25,118 $23,976 
During the year ended December 31, 2022, the Company retired an immaterial amount of equipment and software for an immaterial loss.
During the year ended December 31, 2021, the Company acquired buildings and land associated with the Teton Acquisition. These assets were recorded at their fair value on December 31, 2021 and the buildings will be depreciated over their remaining useful lives.
Depreciation expense for premises and equipment for the years ended December 31, 2022 and 2021 totaled $1.8 million and $1.2 million, respectively.