PREMISES AND EQUIPMENT

6 Months Ended

Dec. 31, 2024

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT

7.       PREMISES AND EQUIPMENT

Premises and equipment consists of the following (dollars in thousands):

	December 31,		June 30,
	2024		2024		2023
Land	$	5,721	$	6,678	$	6,678
Leaseholds and land improvements		2,878		2,901		2,877
Buildings		27,008		29,964		30,144
Furniture, fixtures, and equipment		15,686		15,620		15,504
Construction in progress		371		244		290
Accumulated depreciation and amortization		(21,016)		(21,057)		(19,932)
Premises and equipment, excluding ROU assets		30,648		34,350		35,561
ROU assets		4,832		5,755		6,056
Premises and equipment, net	$	35,480	$	40,105	$	41,617

Depreciation and amortization included in occupancy and equipment expense amounted to $1.0 million and $1.0 million for the six months ended December 31, 2024 and 2023, respectively, and $2.1 million and $2.3 million for the fiscal years ended June 30, 2024 and 2023, respectively. During the six months ended December 31, 2024 $466,000 in impairment expense related to branch renovation strategic initiatives and a $730,000 loss on the sale of a non-branch property were included in net occupancy and equipment expense.