A summary of the net carrying value of premises and equipment at September 30, 2025 and 2024 was as follows:
20252024
(Dollars in thousands)
Land$15,926 $16,070 
Building and improvements131,483 128,730 
Furniture, fixtures and equipment55,286 54,485 
Total premises and equipment202,695 199,285 
Less accumulated depreciation113,381 107,822 
Premises and equipment, net$89,314 $91,463 
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Historical Timeline

Fiscal YearFiled
2025Nov 26, 2025Showing above
2024Nov 27, 2024
2023Nov 29, 2023
2022Nov 23, 2022

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.