PREMISES, EQUIPMENT AND LEASES |
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Jun. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PREMISES, EQUIPMENT AND LEASES | PREMISES, EQUIPMENT AND LEASES A summary of premises, equipment and leases at June 30, 2024 and December 31, 2023 is as follows:
Depreciation expense for the three and six months ended June 30, 2024 was $1.2 million and $2.5 million, respectively, and $1.2 million and $2.4 million for the three and six months ended June 30, 2023, respectively. The Company has entered into operating leases, primarily for banking offices and operating facilities, which have remaining lease terms of 6 months to 14 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 $8.4 million and $7.7 million as of June 30, 2024 and December 31, 2023, respectively, included in on our consolidated balance sheets. The operating lease liabilities of the Company were $9.9 million and $9.3 million as of June 30, 2024 and December 31, 2023, respectively, and are included in accrued interest payable and on our consolidated balance sheets. Information related to operating leases for the three and six months ended June 30, 2024 and 2023 was as follows:
The projected minimum rental payments under the terms of the leases as of June 30, 2024 were as follows:
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