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v3.24.1

Premises and Equipment | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Premises and Equipment | Premises and Equipment The following is a summary of premises and equipment as of December 31:
(In thousands) | 2023 |  | 2022
Land | $ | 6,663 |  |  | $ | 5,534 |
Buildings | 29,680 |  |  | 26,577 |
Furniture, fixtures, and equipment | 23,091 |  |  | 20,950 |
Leasehold improvements | 2,469 |  |  | 2,013 |
Capital expenditures in process | 1,165 |  |  | 897 |
Total cost | 63,068 |  |  | 55,971 |
Less accumulated depreciation | (26,159) |  |  | (21,500) |
Total premises and equipment | $ | 36,909 |  |  | $ | 34,471 |
Depreciation expense was $4.9 million in 2023, $4.3 million in 2022, and $3.3 million in 2021. During 2022, Mid Penn sold a branch which included the sale of $170 thousand and $2.0 million of furniture, fixtures and equipment and consumer loans, respectively, and the transfer of $21.1 million in deposits.

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