Premises And Equipment

12 Months Ended

Dec. 31, 2021

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 2021 or 2020.

The major categories of premises and equipment and accumulated depreciation at December 31, 2021 and 2020 are summarized as follows:

Dollars in thousands	2021		2020
Land	$	13,786	$	12,172
Buildings and improvements	44,121		41,602
Furniture and equipment	31,188		28,768
	89,095		82,542
Less accumulated depreciation	(32,724)		(30,005)
Total premises and equipment, net	$	56,371	$	52,537

Depreciation expense for the years ended December 31, 2021, 2020 and 2019 approximated $3.59 million, $3.22 million and $2.61 million, respectively.