Premises and Equipment

9 Months Ended

Sep. 30, 2019

Property Plant And Equipment [Abstract]

Premises and Equipment

NOTE 9 – PREMISES AND EQUIPMENT

The composition of premises and equipment at September 30, 2019 and December 31, 2018 was as follows:

	September 30,			December 31,
(dollars in thousands)	2019			2018
Land	$	79,967		$	79,231
Buildings		381,028			365,102
Furniture, fixtures, and equipment		107,526			107,862
Leasehold improvements		44,448			42,288
Total		612,969			594,483
Accumulated depreciation		(120,904	)		(108,571	)
Premises and equipment, net	$	492,065		$	485,912

Depreciation expense was $6.8 million for the three months ended September 30, 2019 and $20.0 million for the nine months ended September 30, 2019, compared to $5.9 million for the three months ended September 30, 2018 and $17.7 million for the nine months ended September 30, 2018.

Finance Leases

Old National leases certain branch buildings under finance leases that are included in premises and equipment.  See Notes 10 and 16 to the consolidated financial statements for detail regarding these leases.