Premises And Equipment

12 Months Ended

Dec. 31, 2020

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 2020, 2019, or 2018.

The major categories of premises and equipment and accumulated depreciation at December 31, 2020 and 2019 are summarized as follows:

Dollars in thousands	2020		2019
Land	$	12,172	$	10,645
Buildings and improvements	41,602		34,885
Furniture and equipment	28,768		25,616
	82,542		71,146
Less accumulated depreciation	(30,005)		(26,978)
Total premises and equipment, net	$	52,537	$	44,168

Depreciation expense for the years ended December 31, 2020, 2019 and 2018 approximated $3.22 million, $2.61 million and $2.17 million, respectively.