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BANK PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2022

BANK PREMISES AND EQUIPMENT

BANK PREMISES AND EQUIPMENT

NOTE 6 – BANK PREMISES AND EQUIPMENT

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

​

​	​	​	​	​	​	​
​		December 31, 2022			December 31, 2021
​	​	(dollars in thousands)
Land, buildings, and improvements	​	$	77,869	​	$	77,180
Furniture, fixtures, and equipment	​	​	24,512	​	​	24,199
Total bank premises and equipment	​	​	102,381	​	​	101,379
Less accumulated depreciation	​	​	51,912	​	​	48,896
Total bank premises and equipment, net	​	$	50,469	​	$	52,483

​

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

​

​	​	​	​	​	​	​	​	​	​
​		Year Ended December 31,
​		2022			2021			2020
​	​	(dollars in thousands)
Buildings and improvements	​	$	1,623	​	$	1,694	​	$	1,761
Furniture, fixtures, and equipment	​	​	1,420	​	​	1,380	​	​	1,180
Total depreciation expense	​	$	3,043	​	$	3,074	​	$	2,941

​

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 at the lower of the carrying value or fair value, less estimated costs to sell. As of December 31, 2022 and 2021, bank premises held for sale totaled $0.2 million and $1.5 million, respectively. During the years ended December 31, 2022 and 2021, there were impairment losses of $0.1 million and $0.7 million, respectively, 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.

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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 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

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