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BANK PREMISES AND EQUIPMENT | 12 Months Ended
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Dec. 31, 2019
Property, Plant and Equipment [Abstract] |
BANK PREMISES AND EQUIPMENT | BANK PREMISES AND EQUIPMENT Bank premises and equipment at December 31, were as follows:
| 2019 |  | 2018 |  | Estimated Useful Life
| (Dollars in thousands) |  | (In years)
Cost |  |  |  |  |
Land | $ | 32,619 |  |  | $ | 24,502 |  |  | n/a
Bank premises | 62,455 |  |  | 53,052 |  |  | 5-40
Leasehold improvements | 35,498 |  |  | 27,615 |  |  | 1-27
Furniture and equipment | 77,705 |  |  | 66,974 |  |  | 2-12
Leased equipment | 10,644 |  |  | 10,644 |  |  | 7
Total cost | 218,921 |  |  | 182,787 |  |  |
Accumulated depreciation | (95,247 | ) |  | (85,206 | ) |  |
Net bank premises and equipment | $ | 123,674 |  |  | $ | 97,581 |  |  |
Depreciation expense related to bank premises and equipment was $11.4 million in 2019, $9.1 million in 2018, and $8.5 million in 2017, respectively, primarily included in occupancy and equipment expenses. Depreciation expense relating to computer software is included within other noninterest expense. During 2017, the Company purchased equipment that was subject to a master lease agreement with a third party lessee. As such, the Company assumed the role of lessor in conjunction with the purchase, which was deemed to be an operating lease for accounting purposes. The Company purchased a total of $10.6 million of equipment subject to the lease agreement in 2017. In addition, the Company recognized rental income of $1.6 million in each of the years ended December 31, 2019 and 2018, and $1.3 million in the year ended December 31, 2017. Included in the total above is depreciation expense of $1.3 million for each of the years ended December 31, 2019 and 2018, and $939,000 for the year ended December 31, 2017 related to the leased equipment.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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