Premises and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Summary of Premises and Equipment

Premises and equipment are stated at cost less accumulated depreciation and are summarized as follows:

	As of December 31,
	2023		2022
Land	$	863	$	863
Buildings		8,074		8,072
Leasehold improvements		1		1
Furniture and equipment		6,218		6,212
Totals		15,156		15,148
Less: Accumulated depreciation		9,974		9,697
Premises and equipment, net	$	5,182	$	5,451

Summary of Net Lease Cost

A summary of net lease cost and selected other information related to the operating lease follows:

	Year ended
	December 31, 2023			December 31, 2022
Net Lease Cost
Operating lease cost	$	87		$	85
Variable lease cost		—			—
Net lease cost:		87			85
Selected other operating lease information:
Weighted average remaining lease terms (years)		3.1			1.2
Weighted average discount rate		1.70	%		1.79	%

Summary of Maturity of Remaining Lease Liabilities

The following table summarizes the maturity of remaining lease liabilities:

	(in thousands)
2024	$	89
2025		91
2026		93
2027		16
Sub-total		289
Amounts representing interest		(7	)
Total	$	282