PREMISES AND EQUIPMENT 10K

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT

5. PREMISES AND EQUIPMENT

The following table presents the premises and equipment balances as of December 31, (dollars in thousands):

	2025		2024
Land	$	46,977	$	28,517
Land improvements and buildings		144,466		126,907
Leasehold improvements		29,146		21,731
Furniture and equipment		94,218		84,717
Construction in progress		2,244		1,264
Total		317,051		263,136
Accumulated depreciation and amortization		(150,299)		(150,432)
Premises and equipment, net	$	166,752	$	112,704

Depreciation and amortization expense for the years ended December 31, 2025, 2024, and 2023 was $18.7 million, $12.9 million and $12.9 million, respectively. Refer to Note 7 “Leases” in this Form 10-K for further discussion regarding the Company’s leasing arrangements.

Refer to Note 14 “Fair Value Measurements” in this Form 10-K for further discussion regarding the Company’s fair value methodology. Write downs are included in “Other Expenses” within noninterest expense on the Company’s Consolidated Statements of Income.

The increase in premises and equipment at December 31, 2025, compared to 2024, was primarily due to the Sandy Spring acquisition, which closed on April 1, 2025. Refer to Note 2 “Acquisitions” in this Form 10-K for further discussion regarding the Sandy Spring acquisition.