Bank Premises and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Bank Premises and Equipment

6. BANK PREMISES AND EQUIPMENT:

The following is a summary of bank premises and equipment (in thousands):

	Useful Life		December 31,
			2023			2022
Land		—	$	39,481		$	38,703
Buildings	20 to 40 years			167,450			164,371
Furniture and equipment	3 to 10 years			62,644			62,715
Leasehold improvements	Lesser of lease term or 5 to 15 years			2,936			2,949
				272,511			268,738
Less: accumulated depreciation and amortization				(120,723	)		(115,765	)
Total bank premises and equipment			$	151,788		$	152,973

Depreciation expense for the years ended December 31, 2023, 2022 and 2021 amounted to $10,842,000, $10,818,000 and $10,504,000, respectively, and is included in the captions net occupancy expense and equipment expense in the accompanying consolidated statements of earnings.

The Company is lessor for portions of its banking premises. Total rental income for all leases included in net occupancy expense is approximately $2,742,000, $2,665,000 and $2,622,000, for the years ended December 31, 2023, 2022 and 2021, respectively.