PREMISES AND EQUIPMENT

6 Months Ended

Jun. 30, 2025

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT

5. PREMISES AND EQUIPMENT

Premises and equipment at June 30, 2025, December 31, 2024 are summarized as follows:

Construction in progress is composed of ongoing improvements to existing branches and construction of a new branch and purchase of land for a branch. Depreciation expense for the three months ended June 30, 2025 and 2024 was $93.6 thousand (unaudited) and $89.9 thousand, respectively. Depreciation expense for the six months ended June 30, 2025, and 2024 was $187.5 thousand and $186.0 thousand, respectively. Construction commitments at June 30, 2025 and December 31, 2024, were $324.4 (unaudited) and $1.4 million, respectively.

	June 30,		December 31,
	2025		2024
	(Unaudited)
Building and building improvements	$	7,128	$	7,125
Construction in progress		5,229		3,346
Furniture, fixtures and equipment		2,616		2,760
		14,973		13,231
Accumulated depreciation		(4,405)		(4,434)
Total	$	10,568	$	8,797