Premises and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Premises and Equipment

Premises and Equipment

The major categories of premises and equipment and accumulated depreciation are summarized as follows:

 

December 31 (In thousands)	2023		2022
Land	$	22,176	$	22,139
Buildings	98,472		97,510
Equipment, furniture and fixtures	79,662		77,446
Leasehold improvements	5,684		3,575
Software	29,518		28,665
Total	$	235,512	$	229,335
Less accumulated depreciation	(161,301)		(147,209)
Premises and equipment, net	$	74,211	$	82,126

Depreciation expense amounted to $14.0 million, $13.8 million and $13.3 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Park records operating lease assets where Park acts as the lessor within "Other assets" on the Consolidated Balance Sheets. Equipment subject to lease agreements at December 31, 2023 and 2022 is summarized below:

December 31 (In thousands)	2023		2022
Equipment	$	4,691	$	4,427
Less accumulated depreciation	(2,385)		(3,162)
Leased assets, net	$	2,306	$	1,265

Depreciation expense on operating lease assets of $693,000, $1.1 million, and $1.5 million was recorded for the years ended December 31, 2023, 2022 and 2021, respectively.