Premises And Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Premises and Equipment

PREMISES AND EQUIPMENT

Land is carried at cost, while premises and equipment are stated at cost less accumulated depreciation.  Depreciation is computed primarily by the straight-line method for premises and equipment over the estimated useful lives of the assets.  The estimated useful lives employed are on average 30 years for premises and 3 to 10 years for furniture and equipment.  Repairs and maintenance expenditures are charged to operating expenses as incurred.  Major improvements and additions to premises and equipment, including construction period interest costs, are capitalized.  No interest was capitalized during 2019, 2018, or 2017.

The major categories of premises and equipment and accumulated depreciation at December 31, 2019 and 2018 are summarized as follows:

Dollars in thousands	2019		2018
Land	$	10,645	$	10,415
Buildings and improvements	34,885		32,283
Furniture and equipment	25,616		19,783
	71,146		62,481
Less accumulated depreciation	26,978		24,928
Total premises and equipment, net	$	44,168	$	37,553

Depreciation expense for the years ended December 31, 2019, 2018 and 2017 approximated $2.61 million, $2.17 million and $1.89 million, respectively.