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PREMISES & EQUIPMENT
 12 Months Ended
Dec. 31, 2024
PREMISES & EQUIPMENT [Abstract]  
PREMISES & EQUIPMENT
6. PREMISES & EQUIPMENT


Premises and equipment at December 31, 2024 and 2023 are summarized as follows (in thousands):

 
December 31,
  
   
2024
    
2023
  
Land
  
$
5,839
    
$
5,839
  
Buildings
    
23,012
      
22,948
  
Furniture, fixtures and equipment
    
9,047
      
8,499
  
Construction in process
    
2,172
      
1,921
  
     
40,070
      
39,207
  
Less: accumulated depreciation
    
18,675
      
17,823
  
Premises and equipment, net
  
$
21,395
    
$
21,384
  



Depreciation expense amounted to $1,242,000, $1,147,000 and $877,000 for 2024, 2023 and 2022, respectively.