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BANK PREMISES AND EQUIPMENT | 12 Months Ended
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Dec. 31, 2022
Property, Plant and Equipment [Abstract] |
BANK PREMISES AND EQUIPMENT | BANK PREMISES AND EQUIPMENT Bank premises and equipment at December 31, were as follows:
| 2022 |  | 2021 |  | Estimated Useful Life
| (Dollars in thousands) |  | (In years)
Cost |  |  |  |  |
Land | $ | 52,844 |  |  | $ | 54,295 |  |  | n/a
Bank premises | 97,760 |  |  | 96,887 |  |  | 5-40
Leasehold improvements | 47,098 |  |  | 45,263 |  |  | 1-15
Furniture and equipment | 93,450 |  |  | 89,029 |  |  | 1-10
Leased equipment | 32,792 |  |  | 21,660 |  |  | 5
Total cost | 323,944 |  |  | 307,134 |  |  |
Accumulated depreciation | (127,440) |  |  | (111,544) |  |  |
Net bank premises and equipment | $ | 196,504 |  |  | $ | 195,590 |  |  |
Depreciation expense related to bank premises and equipment was $18.4 million, $12.5 million, and $12.8 million for the years ended December 31, 2022, 2021 and 2020, respectively, and is primarily reflected in occupancy and equipment expenses. Leased equipment held by the Company totaled $32.8 million and $21.7 million at December 31, 2022 and 2021, respectively. The leased equipment is subject to a master lease agreement entered into during 2021 with a third party lessee and the Company assumes the role of lessor in the transaction, which is deemed an operating lease for accounting purposes. The Company recognized rental income of $6.1 million, $890,000 and $1.5 million for the years ended December 31, 2022, 2021 and 2020, respectively.

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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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