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Premises and Equipment
 12 Months Ended
Dec. 31, 2020
Premises and Equipment  
Premises and Equipment

Note 8—Premises and Equipment

Premises and equipment consisted of the following:

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December 31,

 

(Dollars in thousands)

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Useful Life

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2020

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2019

 

Land

    

    

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$

152,263

    

$

74,913

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Buildings and leasehold improvements

 

15

-

40

years

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406,078

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226,750

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Equipment and furnishings

 

3

-

10

years

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161,009

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106,696

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Lease right of use assets

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113,422

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87,389

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Construction in process

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3,618

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1,977

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Total

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836,390

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497,725

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Less accumulated depreciation

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(257,151)

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(180,404)

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$

579,239

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$

317,321

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Depreciation expense charged to operations was $25.3 million, $18.2 million, and $18.7 million for the years ended December 31, 2020, 2019, and 2018, respectively. The overall increase in premises and equipment and depreciation from prior year was due the merger with CSFL in June 2020 when $330.3 million in premises and equipment was acquired.

At December 31, 2020 and 2019, computer software with an original cost of $37.4 million and $13.7 million, respectively, were being amortized using the straight-line method over thirty-six months. Amortization expense totaled

$2.4 million, $1.2 million, and $2.1 million for the years ended December 31, 2020, 2019, and 2018, respectively. There were $2.9 million in capitalized implementation costs at December 31, 2020 related to internal use software following the guidance of ASU No. 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. Of this amount, $2.1 million was related to a new digital banking platform and $743,000 was related to a new public website. These costs are being held in a suspense account classified as other assets on the balance sheet until the project is complete when they will then begin to be depreciated.

See Note 22—Lease Commitments for further details on lease right of use asset.