Property, Premises and Equipment

12 Months Ended

Dec. 31, 2016

Property, Premises and Equipment

Property, Premises and Equipment

Note 7. Property, Premises and Equipment

At December 31, 2016 and 2015, property, premises and equipment consisted of the following:

	December 31,
	2016		2015
		(dollars in thousands)
Building and improvements	$	27,176	$	27,160
Land		11,543		11,543
Furniture and equipment		7,619		7,213
Construction in progress		885		419
Total cost		47,223		46,335
Less: accumulated depreciation and amortization		11,158		8,993
Total property, premises and equipment	$	36,065	$	37,342

Depreciation expense totaled $2.2 million, $2.1 million, and $1.8 million for the years ended December 31, 2016, 2015 and 2014, respectively. The Company leases land, buildings, and equipment under non-cancelable operating leases expiring at various dates through 2022. See Note 19.Commitments and Contingencies, of these consolidated financial statements for additional information regarding the Company's operating lease obligations.