PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2025

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT

8. PREMISES AND EQUIPMENT

An analysis of premises and equipment follows:

	AT  DECEMBER 31,
	2025		2024
	(IN THOUSANDS)
Land	$	1,225	$	1,225
Premises		28,225		29,696
Furniture and equipment		8,177		8,097
Leasehold improvements		1,236		1,229
Total at cost		38,863		40,247
Less: Accumulated depreciation and amortization		24,934		26,019
Premises and equipment, net	$	13,929	$	14,228

The Company recorded depreciation and amortization expense of $1.7 million for the years ended December 31, 2025 and 2024.

The Company utilizes a contract cleaner to provide janitorial services for several office locations. The contract cleaner is owned by a Director of the Company. The amount paid to this related party totaled $232,000 and $233,000 for the years ended December 31, 2025 and 2024, respectively.