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Note 5 - Premises and Equipment | 12 Months Ended
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Dec. 31, 2021
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, 2021 and 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020
​ | ​ | (dollars in thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​
Land | ​ | $ | 12,513 | ​ | $ | 13,403
Buildings (useful lives 15 to 39 years) | ​ |  | 70,555 | ​ |  | 67,844
Furniture and equipment (useful lives 3 to 15 years) | ​ |  | 47,822 | ​ |  | 42,667
Premises and equipment | ​ |  | 130,890 | ​ |  | 123,914
Less accumulated depreciation | ​ |  | 52,360 | ​ |  | 51,221
Premises and equipment, net | ​ | $ | 78,530 | ​ | $ | 72,693
​ | ​ | ​ | ​ | ​ | ​ | ​
​ Note 5. Premises and Equipment (continued) As a lessee, the Company has entered into operating leases for certain branch locations. Total lease expenses were $636 thousand and $662 thousand for the year ended December 31, 2021 and 2020, respectively. At December 31, 2021 and 2020, 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 $1.3 million and $1.7 million, respectively. No new ROU assets were capitalized during the year ended December 31, 2021 or 2020. At December 31, 2021, the contractual maturities of operating lease liabilities were as follows: ​
​ | ​ | ​ | ​
​ |  | Amount
Year ending December 31: |  | (dollars in thousands)
2022 |  | ​ | 269
2023 |  | ​ | 200
2024 |  | ​ | 144
2025 |  | ​ | 153
2026 |  | ​ | 159
Thereafter |  | ​ | 544
​ | ​ | $ | 1,469
​ | ​ | ​ | ​
​ 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 $4.0 million and $5.1 million for the years ended December 31, 2021 and 2020, respectively. At December 31, 2021 and 2020, the Company’s net investment in direct financing leases was $44.2 million and $65.3 million, respectively. ​ As of December 31, 2021, the contractual maturities of sales-type and direct financing lease receivables were as follows: ​
​ | ​ | ​ | ​
​ |  | Amount
Year ending December 31: |  | (dollars in thousands)
2022 |  | ​ | 2,590
2023 |  | ​ | 12,461
2024 |  | ​ | 14,319
2025 |  | ​ | 14,508
2026 |  | ​ | 5,019
Thereafter |  | ​ | 465
Total lease payments receivable | ​ | $ | 49,362
Unguaranteed residual values | ​ | ​ | 165
Unearned lease/residual income | ​ | ​ | (4,336)
​ | ​ | $ | 45,191
Plus deferred origination costs, net of fees | ​ | ​ | 568
​ | ​ | $ | 45,759
Less allowance | ​ | ​ | (1,546)
Total lease payments receivable | ​ | $ | 44,213
​ 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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