PREMISES AND EQUIPMENT, NET

3 Months Ended

Mar. 31, 2020

PREMISES AND EQUIPMENT, NET

PREMISES AND EQUIPMENT, NET

Note 6 – Premises and Equipment, Net

A summary of premises and equipment as of March 31, 2020 and December 31, 2019 is as follows:

	March 31,		December 31,
(dollars in thousands)	2020		2019
Land	$	19,123	$	19,123
Buildings and improvements		77,028		77,296
Furniture and equipment		32,658		31,846
Total		128,809		128,265
Accumulated depreciation		(38,691)		(37,210)
Premises and equipment, net	$	90,118	$	91,055

Depreciation expense of $1.7 million and $1.6 million was recorded for the three months ended March 31, 2020 and 2019, respectively.