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Premises and Equipment | 6 Months Ended
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Jun. 30, 2022
Property, Plant and Equipment [Abstract] |
Premises and Equipment | PREMISES AND EQUIPMENT The composition of premises and equipment was as follows:
(dollars in thousands) | June 30, 2022 |  | December 31, 2021
Land | $ | 97,194 |  |  | $ | 71,014 |
Buildings | 450,537 |  |  | 394,400 |
Furniture, fixtures, and equipment | 143,975 |  |  | 118,124 |
Leasehold improvements | 62,400 |  |  | 46,330 |
Total | 754,106 |  |  | 629,868 |
Accumulated depreciation | (168,075) |  |  | (153,682) |
Premises and equipment, net | $ | 586,031 |  |  | $ | 476,186 |
The increase in premises and equipment at June 30, 2022 when compared to December 31, 2021 was primarily due to assets acquired in the merger with First Midwest totaling $112.4 million. Depreciation expense was $10.0 million for the three months ended June 30, 2022 and $17.7 million for the six months ended June 30, 2022, compared to $7.0 million for the three months ended June 30, 2021 and $14.1 million for the six months ended June 30, 2021. Finance Leases Old National leases certain banking center buildings and equipment under finance leases that are included in premises and equipment. See Notes 8 and 14 to the consolidated financial statements for detail regarding these leases.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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