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Premises and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Premises and Equipment

Note 6. Premises and Equipment

A summary of premises and equipment at December 31, is as follows (in thousands):

​	​	​	​	​	​	​	​	​
​		Useful Life		2020			2019
Land and land improvements		Indefinite	​	$	16,724	​	$	14,712
Building and leasehold improvements		15-40 years	​		53,701	​		38,640
Furniture, fixtures and equipment		3-7 years	​		18,095	​		13,744
Construction in progress			​		964	​		5,523
Total, gross			​		89,484	​		72,619
Accumulated depreciation			​		(16,802)	​		(13,186)
Total, net			​	$	72,682	​	$	59,433

​

At December 31, 2020 management estimates the cost necessary to complete the construction in progress will be approximately $150 thousand.

Depreciation and amortization expense relating to premises and equipment was $3.7 million and $2.8 million for the years ended December 31, 2020 and 2019, respectively.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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