Bank Premises and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Bank Premises and Equipment

Bank Premises and Equipment

The major categories of bank premises and equipment, net of accumulated depreciation, at December 31 were as follows:

(Dollars in thousands)	2023		2022
Land	$	23,680	$	18,746
Building and premises	120,587		101,478
Furniture, fixtures and equipment	42,360		37,913
Total bank premises and equipment	186,627		158,137
Accumulated depreciation	(82,771)		(75,203)
Net book value	$	103,856	$	82,934

Peoples depreciates its building and premises, and furniture, fixtures and equipment over estimated useful lives generally ranging from five to forty to years and two to ten years, respectively. Depreciation expense was $7.7 million in 2023 and $7.0 million in 2022.