Premises and Equipment

12 Months Ended

Dec. 31, 2020

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, 2020 and 2019:

	2020		2019
Cost at December 31:
Land	$	25,619	$	25,227
Buildings and Leasehold Improvements	163,588		162,391
Equipment	127,341		124,327
Total Cost	316,548		311,945
Accumulated Depreciation and Amortization	(205,486)		(198,890)
Net	$	111,062	$	113,055

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. ACQUISITIONS 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.