Property and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

NOTE 6 – Property and Equipment

Property and equipment are stated at cost less accumulated depreciation. Components of property and equipment included in the consolidated balance sheets are as follows:

	December 31,
(dollars in thousands)	2020			2019
Land	$	10,678			11,531
Buildings		21,966			24,136
Leasehold improvements		5,503			4,486
Furniture and equipment		10,459			10,219
Software		386			367
Construction in process		6,179			939
Accumulated depreciation and amortization		(13,703	)		(12,705	)
Property and equipment, excluding ROU assets		41,468			38,973
ROU assets		18,768			19,505
Total property and equipment	$	60,236			58,478

On October 9, 2020 we sold two of our office locations in Columbia, South Carolina and recognized a gain of $180,000 in the transaction.

Construction in process at December 31, 2020 and 2019 primarily included costs associated with the new bank headquarters building. Depreciation and amortization expense for the years ended December 31, 2020 and 2019 was $2.1 million and $1.9 million, respectively. Depreciation and amortization are charged to operations utilizing a straight-line method over the estimated useful lives of the assets. The estimated useful lives for the principal items follow:

Type of Asset	Life in Years
Software	3
Furniture and equipment	5 to 7
Leasehold improvements	5 to 15
Buildings	40