Annual report pursuant to Section 13 and 15(d)

Premises and Equipment

v3.20.4
Premises and Equipment
12 Months Ended
Dec. 31, 2020
Property Plant And Equipment [Abstract]  
Premises and Equipment

NOTE 7. PREMISES AND EQUIPMENT

In the following table software has been reclassified to other assets for 2019. The major components of premises and equipment are as follows:

 

 

 

December 31,

 

 

 

2020

 

 

2019

 

 

 

(Dollars in thousands)

 

Land

 

$

21,167

 

 

$

17,481

 

Building and improvements

 

 

53,541

 

 

 

51,402

 

Furniture, fixtures and equipment

 

 

15,504

 

 

 

13,677

 

Leasehold improvements

 

 

1,550

 

 

 

1,092

 

Construction in process

 

 

3,896

 

 

 

204

 

Automobiles

 

 

1,806

 

 

 

1,740

 

Total

 

 

97,464

 

 

 

88,433

 

Less: Accumulated depreciation

 

 

(14,116

)

 

 

(13,283

)

Total premises and equipment, net

 

$

83,348

 

 

$

75,150

 

 

Total depreciation expense was $4.1 million, $2.8 million, and $2.0 million for the years ended December 31, 2020, 2019, and 2018, respectively. 

The estimated costs to complete all open construction projects at December 31, 2020 was $194 thousand.