Note 7 - Premises and Equipment

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

7. Premises and Equipment

A summary of premises and equipment is as follows:

(dollars in thousands)	December 31, 2020			December 31, 2019
Land	$	21,304		$	18,991
Buildings		65,936			58,917
Leasehold improvements		31,909			29,898
Furniture, fixtures and equipment		33,400			29,067
Construction in progress		11,842			13,728
		164,391			150,601
Less accumulated depreciation		(41,221	)		(33,645	)
Net premises and equipment	$	123,170		$	116,956

Depreciation expense on premises and equipment amounted to approximately $8.2 million, $6.5 million, and $5.4 million in 2020, 2019, and 2018, respectively. The construction in progress balance of $11.8 million mainly represents costs incurred for the selection and development of future store locations. Of this balance, $8.5 million represents land purchased and land deposits for nine future store locations. Contractual construction commitments related to future store locations were $2.5 million as of December 31, 2020.