PREMISES AND EQUIPMENT

3 Months Ended

Mar. 31, 2020

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT

NOTE 7: PREMISES AND EQUIPMENT

The components of premises and equipment as of the dates shown below were as follows:

(Dollars in thousands)	March 31, 2020		December 31, 2019
Land	$	13,466	$	13,466
Buildings and leasehold improvements		53,874		53,869
Furniture and equipment		16,022		15,917
Vehicles		203		203
Construction in progress		343		343
		83,908		83,798
Less accumulated depreciation		(33,665)		(32,923)
Premises and equipment, net	$	50,243	$	50,875

Depreciation expense was $775,000 and $824,000 for the three months ended March 31, 2020 and 2019, respectively, which is included in net occupancy expense on the Company’s condensed consolidated statements of income.