Premises and equipment, net of accumulated depreciation, consist of the following:
(Dollars in thousands)December 31, 2025December 31, 2024
Land$100,599 84,402 
Buildings and construction in progress453,374 395,458 
Furniture, fixtures and equipment119,701 123,901 
Leasehold improvements20,631 15,950 
Accumulated depreciation(208,121)(207,743)
Net premises and equipment$486,184 $411,968 

Historical Timeline

Fiscal YearFiled
2025Feb 25, 2026Showing above
2024Feb 25, 2025
2023Feb 23, 2024
2022Feb 24, 2023
2021Feb 23, 2022
2020Mar 1, 2021
2019Feb 21, 2020
2018Feb 22, 2019
2017Feb 22, 2018
2016Feb 23, 2017
2015Feb 25, 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.