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PREMISES AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2024
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 of the dates noted:
December 31,
(dollars in thousands)20242023
Building and building improvements$12,207 $12,190 
Leasehold improvements, including artwork14,178 14,336 
Land4,980 4,980 
Equipment and software7,572 6,619 
Gross premise and equipment38,937 38,125 
Less: accumulated depreciation(14,808)(12,869)
Premises and equipment, net$24,129 $25,256 
During the year ended December 31, 2024 and 2023, the Company retired an immaterial amount of equipment and software for an immaterial loss.
Depreciation expense for Premises and equipment, net for the years ended December 31, 2024 and 2023 totaled $2.3 million and $2.2 million, respectively.