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BANK PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2021

BANK PREMISES AND EQUIPMENT

BANK PREMISES AND EQUIPMENT

NOTE 7 – BANK PREMISES AND EQUIPMENT

Bank premises and equipment are stated at cost less accumulated depreciation as of December 31 as follows:

​

​	​	​	​	​	​	​
​		December 31, 2021			December 31, 2020
​	​	(dollars in thousands)
Land, buildings, and improvements	​	$	77,180	​	$	75,790
Furniture, fixtures, and equipment	​	​	24,199	​	​	23,035
Total bank premises and equipment	​	​	101,379	​	​	98,825
Less accumulated depreciation	​	​	48,896	​	​	45,921
Total bank premises and equipment, net	​	$	52,483	​	$	52,904

​

Depreciation expense by category for the years ended December 31 is as follows:

​

​	​	​	​	​	​	​	​	​	​
​		Year Ended December 31,
​		2021			2020			2019
​	​	(dollars in thousands)
Buildings and improvements	​	$	1,694	​	$	1,761	​	$	1,813
Furniture, fixtures, and equipment	​	​	1,380	​	​	1,180	​	​	896
Total depreciation expense	​	$	3,074	​	$	2,941	​	$	2,709

​

During 2021, six branch locations were closed or consolidated as part of a branch rationalization plan. The related bank premises were transferred to held for sale based on the lower of the carrying value or fair value, less estimated costs to sell. As of December 31, 2021 and 2020, bank premises held for sale totaled $1,452,000 and $121,000, respectively. During the year ended December 31, 2021, there were impairment losses of $661,000 on bank premises held for sale included in gains (losses) on other assets in the consolidated statements of income. During the year ended December 31, 2020, there were no impairment losses on bank premises held for sale. During the year ended December 31, 2019, there were impairment losses of $37,000 on bank premises held for sale included in gains (losses) on other assets in the consolidated statements of income

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- References

No definition available.

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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

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