Note 6 - Premises and Equipment

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

Note 6: Premises and Equipment

A summary of the cost and accumulated depreciation of premises and equipment as of the dates indicated, follows:

	December 31,
	2023			2022
Premises	$	15,724		$	15,435
Furniture and equipment		7,862			6,658
Premises and equipment		23,586			22,093
Accumulated depreciation		(12,477	)		(11,722	)
Premises and equipment, net	$	11,109		$	10,371

Depreciation expense for the years ended December 31, 2023 and 2022 amounted to $754 and $609, respectively.

Premises includes construction in process. NBB has purchased land and developed plans for a new branch building in Roanoke, Virginia. The amount for the Roanoke location included in construction in process totaled $1,822 as of December 31, 2023 and $1,586 as of December 31, 2022. The Company expects the building will be completed and placed in service by the end of 2024.