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BRANCH RESTRUCTURING COSTS
12 Months Ended
Dec. 31, 2022
BRANCH RESTRUCTURING COSTS  
BRANCH RESTRUCTURING COSTS

18. BRANCH RESTRUCTURING COSTS

On June 29, 2021, the Company issued a press release announcing that the Bank planned to combine five branch locations into other existing branches. The combinations took place in October 2021. Costs associated with early lease terminations and accelerated depreciation of fixed assets totaled $5.1 million for the year ended December 31, 2021 and were recorded in branch restructuring costs in the consolidated statements of income.  There were no branch restructuring costs for the years ended December 31, 2022 and 2020.