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Note 1: Nature of Operations and Summary of Significant Accounting Policies: Property, Plant and Equipment, Policy (Policies)
12 Months Ended
Dec. 31, 2019
Policies  
Property, Plant and Equipment, Policy

Premises and equipment are stated at cost less accumulated depreciation.  Depreciation is charged to expense using the straight-line and accelerated methods over the estimated useful lives of the assets.  Leasehold improvements are capitalized and amortized using the straight-line and accelerated methods over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter.

 

Material lease obligations consist of leases for various loan offices and banking centers, all of which are categorized as “operating leases.”  Under current accounting guidance, lessees are required to recognize a lease liability and a right-of-use asset for these leases. This right-of-use asset is included in Premises and Equipment.