A summary of the cost and accumulated depreciation of premises and equipment follows:
| (Dollars in thousands) | Year Ended December 31, 2013 |
Year Ended December 31, 2012 |
Estimated Useful Life |
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Land |
$ | 49,219 | $ | 53,802 | ||||||||
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Buildings and leasehold improvements |
124,312 | 128,189 | <1 to 40 years | |||||||||
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Furniture, fixtures and equipment |
65,605 | 57,296 | <1 to 40 years | |||||||||
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Construction in progress |
564 | 5,422 | ||||||||||
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Premises and equipment, gross |
239,700 | 244,709 | ||||||||||
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Less: Accumulated depreciation |
(59,845 | ) | (46,252 | ) | ||||||||
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Premises and equipment, net |
$ | 179,855 | $ | 198,457 | ||||||||
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