Premises and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Premises and equipment consist of the following at December 31, 2023 and 2022:


(In thousands)	2023		2022
Land	$	88,564	$	89,342
Buildings and improvements	730,445		673,802
Equipment	244,636		237,867
Right of use leased assets	26,962		26,030
Total	1,090,607		1,027,041
Less accumulated depreciation	621,548		608,132
Net premises and equipment	$	469,059	$	418,909

Depreciation expense of $36.1 million in 2023, $32.3 million in 2022, and $31.9 million in 2021, was included in occupancy expense and equipment expense in the consolidated statements of income. Repairs and maintenance expense of $18.5 million, $17.7 million, and $16.0 million for 2023, 2022 and 2021, respectively, was included in occupancy expense and equipment expense. Interest expense capitalized on constructions projects totaled $903 thousand, $1.4 million, and $29 thousand in 2023, 2022 and 2021, respectively.

Right of use leased assets are comprised mainly of operating leases for branches, office space, ATM locations, and certain equipment, as described in Note 6.