Bank Premises and Equipment

12 Months Ended

Dec. 31, 2024

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,
			2024			2023
Land		—	$	39,866		$	39,481
Buildings	20 to 40 years			170,746			167,450
Furniture and equipment	3 to 10 years			69,136			62,644
Leasehold improvements	Lesser of lease term or 5 to 15 years			2,910			2,936
				282,658			272,511
Less: accumulated depreciation and amortization				(130,754	)		(120,723	)
Total bank premises and equipment			$	151,904		$	151,788

Depreciation expense for the years ended December 31, 2024, 2023 and 2022 amounted to $11,312,000, $10,842,000 and $10,818,000, 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 $2,702,000, $2,742,000 and $2,665,000, for the years ended December 31, 2024, 2023 and 2022, respectively.