Premises and equipment were summarized as follows for the dates indicated below:
December 31,
20252024
(In thousands)
Land$21,229 $21,081 
Buildings72,965 72,168 
Lease right-of-use assets15,327 17,278 
Leasehold improvements10,568 10,608 
Furniture, fixtures and equipment27,800 25,853 
Construction in progress293 161 
Total148,182 147,149 
Less: accumulated depreciation42,064 35,293 
Premises and equipment, net$106,118 $111,856 
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Historical Timeline

Fiscal YearFiled
2025Feb 26, 2026Showing above
2024Mar 3, 2025
2023Feb 29, 2024
2022Mar 15, 2023
2021Feb 25, 2022
2020Feb 26, 2021
2019Feb 26, 2020
2018Feb 28, 2019
2017Mar 23, 2018

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.