Premises and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Premises and Equipment

Premises and Equipment

The following is a summary of premises and equipment as of December 31:

(In thousands)	2023		2022
Land	$	6,663	$	5,534
Buildings	29,680		26,577
Furniture, fixtures, and equipment	23,091		20,950
Leasehold improvements	2,469		2,013
Capital expenditures in process	1,165		897
Total cost	63,068		55,971
Less accumulated depreciation	(26,159)		(21,500)
Total premises and equipment	$	36,909	$	34,471

Depreciation expense was $4.9 million in 2023, $4.3 million in 2022, and $3.3 million in 2021.

During 2022, Mid Penn sold a branch which included the sale of $170 thousand and $2.0 million of furniture, fixtures and equipment and consumer loans, respectively, and the transfer of $21.1 million in deposits.