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PREMISES, EQUIPMENT AND LEASES
 6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
PREMISES, EQUIPMENT AND LEASES PREMISES, EQUIPMENT AND LEASES
A summary of premises, equipment and leases at June 30, 2025 and December 31, 2024 is as follows:
June 30,December 31,
(dollars in thousands)20252024
Land$15,856 $15,986 
Buildings and improvements85,322 83,296 
Furniture and equipment37,363 36,526 
Lease right-of-use assets8,862 8,830 
Total147,403 144,638 
Accumulated depreciation(61,163)(58,928)
Premises and equipment, net$86,240 $85,710 
    Depreciation expense for the three and six months ended June 30, 2025 was $1.2 million and $2.5 million, respectively, and $1.2 million and $2.5 million for the three and six months ended June 30, 2024, respectively.
The Company has entered into operating leases, primarily for banking offices, operating facilities and ATMs, which have remaining lease terms of 6 months to 13 years, some of which may include options to extend the lease terms for up to an additional 10 years. The options to extend are included in the remaining lease term if they are reasonably certain to be exercised. The Company had operating lease right-of-use assets of $8.9 million and $8.8 million as of June 30, 2025 and December 31, 2024, respectively, included in premises and equipment on our consolidated balance sheets. The operating lease liabilities of the Company were $10.1 million as of both June 30, 2025 and December 31, 2024, and are included in accrued interest payable and other liabilities on our consolidated balance sheets.
Information related to operating leases for the three and six months ended June 30, 2025 and 2024 was as follows:
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)2025202420252024
Operating lease cost$480 $481 $978 $957 
Operating cash flows from leases485 577 1,003 1,149 
Right-of-use assets obtained in exchange for lease obligations— 1,317 837 1,539 
Weighted average remaining lease term6.51 years7.37 years6.51 years7.37 years
Weighted average discount rate3.72 %3.58 %3.72 %3.58 %
The projected minimum rental payments under the terms of the leases as of June 30, 2025 were as follows:
(dollars in thousands)Amount
Year ending December 31:
2026$1,768 
20271,824 
20281,708 
20291,659 
20301,445 
Thereafter3,103 
Total future minimum lease payments11,507 
Less imputed interest(1,395)
Total operating lease liabilities$10,112