Premises and equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment

Premises and Equipment

Note 13 - Premises and equipment

Premises and equipment are stated at cost less accumulated depreciation and amortization as follows:

(In thousands)		Useful life in years		2019		2018
Premises and equipment:
	Land		$	114,481	$	120,519
	Buildings	10-50		535,602		515,985
	Equipment	2-10		362,543		336,722
	Leasehold improvements	3-10		92,923		84,244
				991,068		936,951
	Less - Accumulated depreciation and amortization			561,742		533,930
	Subtotal			429,326		403,021
	Construction in progress			12,843		32,334
Premises and equipment, net			$	556,650	$	555,874
Other premises and equipment:
	Buildings under capital leases	7-20	$	-	$	28,264
	Less - Accumulated amortization			-		14,330
Other premises and equipment, net			$	-	$	13,934
Total premises and equipment, net			$	556,650	$	569,808

Depreciation and amortization of premises and equipment for the year 2019 was $58.1 million (2018 -$52.5 million; 2017 - $47.1 million), of which $27.3 million (2018 - $24.3 million; 2017 - $22.4 million) was charged to occupancy expense and $30.8 million (2018 - $28.2 million; 2017 - $24.7 million) was charged to equipment, communications and other operating expenses. Occupancy expense of premises and equipment is net of rental income of $19.3 million (2018 - $28.2 million; 2017 - $26.6 million). For information related to the amortization expense of finance leases, refer to Note 35 - Leases.