PREMISES AND EQUIPMENT

9 Months Ended

Sep. 30, 2025

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT

5. PREMISES AND EQUIPMENT

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

Construction in progress is composed of ongoing improvements to existing branches, construction of a new branch and purchase of land for a branch. Depreciation expense for the three months ended September 30, 2025 and 2024 was $96 thousand and $89 thousand, respectively. Depreciation expense for the nine months ended September 30, 2025, and 2024 was $284 thousand and $275 thousand, respectively. Construction commitments at September 30, 2025 and December 31, 2024, were $324 thousand and $1.4 million, respectively.

	September 30,		December 31,
	2025		2024
	(Unaudited)
Building and building improvements	$	7,144	$	7,125
Construction in progress		5,862		3,346
Furniture, fixtures and equipment		2,657		2,760
		15,663		13,231
Accumulated depreciation		(4,501)		(4,434)
Total	$	11,162	$	8,797