Premises and Equipment

12 Months Ended

Dec. 31, 2024

Premises and Equipment

Premises and Equipment

7. Premises and Equipment

The following table presents the components of premises and equipment at December 31, 2024 and 2023:

(in thousands)	2024		2023
Land	$	9,155	$	7,745
Land improvements		1,459		1,384
Premises		34,922		34,922
Furniture and equipment		18,846		18,873
		64,382		62,924
Less accumulated depreciation		(34,301)		(31,465)
Total	$	30,081	$	31,459

The Corporation recorded depreciation expense of $3.3 million and $3.8 million for the years ended December 31, 2024 and 2023, respectively.