Note 6 - Premises and Equipment

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

Note 6. Premises and Equipment

At December 31, 2021 and 2020, premises and equipment consisted of the following:

(In thousands)	December 31,
	2021			2020
Land	$	12,819		$	12,819
Buildings		19,046			20,287
Leasehold Improvements		3,058			4,024
Furniture, equipment, and software		12,264			12,010
Construction-in-progress		65			62
Premises and equipment, gross		47,252			49,202
Accumulated depreciation and amortization		(15,752	)		(15,779	)
Premises and equipment, net	$	31,500		$	33,423

In December 2021, the Bank sold a building located in the City New Haven, Connecticut for a cash proceed of $1.5 million, and recognized a gain of $550,000, which is included in other income of the consolidated statements of operations. For the years ended December 31, 2021, 2020 and 2019, depreciation and amortization expense related to premises and equipment totaled $1.4 million, $1.5 million, and $1.6 million, respectively.