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Note 5 - Premises and Equipment | 12 Months Ended
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Dec. 31, 2020
Notes to Financial Statements |
Premises and Equipment | Note 5. Premises and Equipment The following summarizes the components of premises and equipment as of December 31, 2020 and 2019: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019
​ | ​ | (dollars in thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​
Land | ​ | $ | 13,403 | ​ | $ | 13,632
Buildings (useful lives 15 to 50 years) | ​ |  | 67,844 | ​ |  | 66,070
Furniture and equipment (useful lives 3 to 10 years) | ​ |  | 42,667 | ​ |  | 40,228
Premises and equipment | ​ |  | 123,914 | ​ |  | 119,930
Less accumulated depreciation | ​ |  | 51,221 | ​ |  | 46,071
Premises and equipment, net | ​ | $ | 72,693 | ​ | $ | 73,859
​ As a lessee, the Company has entered into operating leases for certain branch locations. Total lease expenses were $662 thousand and $732 thousand for the year ended December 31, 2020 and 2019, respectively. At December 31, 2020 and 2019, the Company’s ROU assets (included in other assets on the consolidated balance sheets) and operating lease liabilities (included in other liabilities on the consolidated balance sheets) were both $1.7 million and $1.9 million, respectively. No new ROU assets were capitalized during the year ended December 31, 2020 or 2019. At December 31, 2020, the contractual maturities of operating lease liabilities were as follows: ​
​ | ​ | ​ | ​
​ |  | Amount
Year ending December 31: |  | (dollars in thousands)
2021 |  | ​ | 323
2022 |  | ​ | 256
2023 |  | ​ | 200
2024 |  | ​ | 144
2025 |  | ​ | 153
Thereafter |  | ​ | 703
​ | ​ | $ | 1,779
​ Note 5. Premises and Equipment (continued) As a lessor, the Company leases certain types of commercial vehicles and industrial equipment to its customers. The Company recognized lease-related revenue, primarily interest income from direct financing leases of $5.1 million and $6.1 million for the year ended December 31, 2020 and 2019, respectively. At December 31, 2020 and 2019, the Company’s net investment in direct financing leases was $65.3 million and $88.3 million, respectively. ​ As of December 31, 2020, the contractual maturities of sales-type and direct financing lease receivables were as follows: ​
​ | ​ | ​ | ​
​ |  | Amount
Year ending December 31: |  | (dollars in thousands)
2021 |  | ​ | 3,879
2022 |  | ​ | 14,983
2023 |  | ​ | 21,059
2024 |  | ​ | 17,248
2025 |  | ​ | 14,780
Thereafter |  | ​ | 991
Total lease payments receivable | ​ | $ | 72,940
Unguaranteed residual values | ​ | ​ | 239
Unearned lease/residual income | ​ | ​ | (7,163)
​ | ​ | $ | 66,016
Plus deferred origination costs, net of fees | ​ | ​ | 1,072
​ | ​ | $ | 67,088
Less allowance | ​ | ​ | (1,764)
Total lease payments receivable | ​ | $ | 65,324
​ The The

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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 http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://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 http://asc.fasb.org/extlink&oid=120429125&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 http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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