Premises and Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Premises and Equipment

PREMISES AND EQUIPMENT

The following table summarizes the Corporation's premises and equipment as of December 31, 2019 and 2018:

	2019			2018
Cost at December 31:
Land	$	25,227		$	21,762
Buildings and Leasehold Improvements	162,391			125,366
Equipment	124,327			86,498
Total Cost	311,945			233,626
Accumulated Depreciation and Amortization	(198,890		)	(140,206		)
Net	$	113,055		$	93,420

The MBT acquisition on September 1, 2019 resulted in additions to premises and equipment of $21,664,000. Details regarding the acquisition are discussed in NOTE 2. ACQUISITION of these Notes to Consolidated Financial Statements.

The Corporation is committed under various non-cancelable lease contracts for certain subsidiary office facilities and equipment. Details regarding the lease contracts are discussed in NOTE 10. LEASES of these Notes to Consolidated Financial Statements.