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Premises and Equipment
12 Months Ended
Dec. 31, 2023
Premises and Equipment  
Premises and Equipment

Note 7—Premises and Equipment

Premises and equipment consisted of the following:

December 31,

 

(Dollars in thousands)

Useful Life

2023

2022

 

Land

    

    

    

$

132,717

    

$

133,105

Buildings and leasehold improvements

 

15

-

40

years

 

401,989

 

395,360

Equipment and furnishings

 

3

-

10

years

 

201,153

178,676

Lease right of use assets

100,331

107,979

Construction in process

 

7,770

 

4,145

Total

 

843,960

 

819,265

Less accumulated depreciation

 

(324,763)

 

(298,630)

$

519,197

$

520,635

Depreciation expense charged to operations was $28.2 million, $29.4 million, and $29.2 million for the years ended December 31, 2023, 2022, and 2021, respectively.

At December 31, 2023 and 2022, computer software with an original cost of $24.6 million and $23.2 million, respectively, were being amortized using the straight-line method over thirty-six months. The unamortized balance remaining of the original computer software cost was $4.3 and $7.8, respectively, at December 31, 2023 and 2022. Amortization expense totaled $4.9 million, $4.9 million, and $4.8 million for the years ended December 31, 2023, 2022, and 2021, respectively. There were no capitalized implementation costs in 2023 related to internal use software.

See Note 21Lease Commitments for further details on lease right of use assets.