Bank Premises And Equipment

12 Months Ended

Dec. 31, 2020

Bank Premises And Equipment [Abstract]

Bank Premises And Equipment

6.BANK PREMISES AND EQUIPMENT

Components of bank premises and equipment are summarized as follows:

		As of December 31,
(dollars in thousands)	2020		2019
Land	$	3,655	$	2,865
Bank premises		19,788		14,123
Furniture, fixtures and equipment		13,728		12,523
Leasehold improvements		9,618		9,372
Construction in process		307		559
Total		47,096		39,442
Less accumulated depreciation and amortization		(19,470)		(17,885)
Bank premises and equipment, net	$	27,626	$	21,557

Depreciation expense, which includes amortization of leasehold improvements, was $1.9 million, $1.5 million and $1.3 million for the years ended December 31, 2020, 2019 and 2018. The estimated useful life was 40 years for bank premises, 3 to 7 years for furniture and fixtures and for leasehold improvements was the term of the lease.

During the first quarter of 2014, the Company received through foreclosure the deed that secured the collateral for a non-owner occupied commercial real estate loan that was on non-accrual status. The loan, in the amount $1.0 million, was

transferred from loans to foreclosed assets held-for-sale and then to bank premises. Currently the building has a tenant under a lease agreement expiring in January 2022, but the Company expects to use the property for future facility expansion.