Premises and Equipment, Net

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Premises and Equipment, Net

Premises and Equipment, Net

At December 31, 2019 and 2018, premises and equipment, less accumulated depreciation and amortization, consists of the following (in thousands): 

	December 31,
	2019			2018
At cost:
Land	$	4,018		$	4,018
Buildings and improvements	10,660			8,905
Capital leases	2,600			2,600
Furniture, fixtures, and equipment	26,179			24,140
Leasehold improvements	27,886			30,115
	71,343			69,778
Accumulated depreciation and amortization	(45,684		)	(44,173		)
Premises and equipment, net	$	25,659		$	25,605

Depreciation expense for the years ended December 31, 2019, 2018, and 2017, was $3.6 million, $3.0 million, and $3.2 million, respectively. Included in the depreciation expense for the year ended December 31, 2019, is $470,000 of impairment charges on leasehold assets related to the consolidation of three branches on December 31, 2019. There were no sales of premises and equipment in 2019, 2018, or 2017.