Note 5 - Land, Premises and Equipment, Net |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes to Financial Statements | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant, and Equipment [Text Block] |
NOTE 5 Land, Premises and Equipment, Net
Components of land, premises and equipment, net at June 30, 2026 and December 31, 2025 were as follows:
Depreciation expense was $1.4 million and $1.1 million for the three months ended June 30, 2026 and 2025, respectively. Depreciation expense was $2.7 million and $2.2 million for the six months ended June 30, 2026 and 2025, respectively.
The Company’s West Fargo, North Dakota branch is listed for sale for $3.8 million and is expected to sell within the next 12 months. At June 30, 2026, the facility had a carrying value of approximately $0.4 million. The Company expects to record a gain on the sale upon closing, as the expected sale price is greater than the property’s carrying value. Total assets associated with this location held for sale by the Company at June 30, 2026 were $0.4 million and were included in other assets on the Company’s consolidated balance sheet and not included in the table above. |
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