Premises and Equipment

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Premises and Equipment

Premises and Equipment

The following presents a summary of premises and equipment:

(Dollars in thousands)
December 31,	2024	2023
Land	$3,920	$6,042
Premises and improvements	36,499	48,573
Furniture, fixtures and equipment	21,482	23,980
Total premises and equipment	61,901	78,595
Less: accumulated depreciation	35,028	46,304
Total premises and equipment, net	$26,873	$32,291

The following table presents a summary of depreciation expense:

(Dollars in thousands)		Year ended December 31,
Fixed Asset Type	Income Statement Line Item	2024	2023	2022
Premises and improvements	Net occupancy	$1,907	$1,840	$1,668
Furniture, fixtures and equipment	Equipment	2,027	2,165	1,797
Total depreciation expense		$3,934	$4,005	$3,465

In the second quarter of 2024, the Bank sold an operations facility and a net gain of $988 thousand was recognized within other noninterest income. For the years ended 2023 and 2022, there were no sales of premises and equipment and therefore, no gains or losses were recognized in those periods.

In the fourth quarter of 2024, land and premises associated with five branch locations with a total net book value of $4.8 million were reclassified to held for sale, as the Bank committed to sell these assets and lease them back from the buyers. The sales-leaseback transactions for four of the five locations were completed on January 30, 2025. See Note 7 for additional information related to the leaseback of the assets.