Premises and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Premises and Equipment

NOTE 7 - PREMISES AND EQUIPMENT

Year-end premises and equipment were as follows:

	At December 31,
	2023			2022
Land and improvements	$	8,392		$	7,919
Buildings and improvements		39,874			35,138
Furniture and equipment		61,335			63,033
Total		109,601			106,090
Accumulated depreciation		(52,832	)		(42,072	)
Premises and equipment, net	$	56,769		$	64,018

Depreciation expense was $10,760 in 2023, $4,456 in 2022 and $1,976 in 2021. The increase in depreciation expense in 2023 was in large part due to operating leases at the CLF division which are treated as fixed assets.