PREMISES AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2023

PREMISES AND EQUIPMENT, NET

PREMISES AND EQUIPMENT

NOTE 4 — PREMISES AND EQUIPMENT, NET

Premises and equipment, net at December 31, 2023 and 2022 is as follows:

(Dollars in thousands)

	Estimated Useful
	Life (in years)	2023		2022
Land	N/A	$	3,744	$	3,744
Buildings	5-40		23,197		22,114
Leasehold improvements	1-20		338		335
Equipment	3-25		8,352		7,937
			35,631		34,130
Less:  Accumulated depreciation			16,020		15,106
Total		$	19,611	$	19,024

Depreciation amounted to $1,050,000 for 2023 and $1,026,000 for 2022 in the consolidated statements of income.