PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2025

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT

5. PREMISES AND EQUIPMENT

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

	At December 31,
(In thousands)	2025		2024
Building and building improvements	$	9,976	$	7,125
Construction in progress		4,604		3,346
Furniture, fixtures and equipment		3,231		2,760
		17,811		13,231
Accumulated depreciation		(4,621)		(4,434)
Total	$	13,190	$	8,797

Construction in progress is comprised of ongoing improvements to existing branches, construction of a new branch, and purchase of land for a branch. Depreciation expense for the years ended December 31, 2025, and 2024 was $404,000 and $375,000, respectively. Construction commitments at December 31, 2025 and December 31, 2024, were $43,000 and $1.4 million, respectively.