A summary of premises and equipment and related accumulated depreciation is summarized as follows (in thousands):

Estimated Useful Life20252024
Land$35,098 $35,163 
Buildings and improvements
10 to 30 yrs.
103,193 102,342 
Equipment
3 to 10 yrs.
40,491 39,810 
178,782 177,315 
Less: accumulated depreciation
(109,649)(106,776)
$69,133 $70,539 

Historical Timeline

Fiscal YearFiled
2025Feb 25, 2026Showing above
2024Feb 26, 2025
2023Feb 28, 2024
2022Feb 22, 2023
2021Feb 24, 2022
2020Feb 24, 2021
2019Feb 27, 2020
2018Mar 11, 2019
2017Feb 28, 2018
2016Feb 27, 2017
2015Mar 2, 2016

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.