CASH 2018 Annual Report
142 NOTE 7. PREMISES, FURNITURE AND EQUIPMENT, NET Year-end premises and equipment were as follows: September 30, 2018 2017 (Dollars in Thousands) Land $ 2,932 $ 1,578 Buildings 27,359 10,642 Furniture, fixtures, and equipment 56,438 46,934 Capitalized leases 2,259 2,259 88,988 61,413 Less: accumulated depreciation and amortization (48,530) (42,093) Net book value $ 40,458 $ 19,320 Depreciation expense of premises, furniture and equipment included in occupancy and equipment expense was approximately $5.7 million, $5.5 million and $5.4 million for the years ended September 30, 2018, 2017 and 2016, respectively. Amortization expense on capitalized leases for the years ended September 30, 2018, 2017 and 2016, was $0.1 million, $0.1 million and $0.2 million, respectively, and is included in occupancy and equipment expense. Substantially all of the Company's capitalized leases at September 30, 2018 were building leases. NOTE 8. TIME CERTIFICATES OF DEPOSITS Time certificates of deposits in denominations of $250,000 or more were approximately $163.3 million and $85.2 million at September 30, 2018, and 2017, respectively. At September 30, 2018, the scheduled maturities of time certificates of deposits were as follows for the years ending: As of September 30, (Dollars in Thousands) 2019 $ 1,562,801 2020 125,581 2021 16,623 2022 6,929 2023 1,048 Total (1) 1,712,982 (1) As of September 30, 2018, the Company had $1.44 billion of certificates of deposits which were recorded in wholesale deposits on the Consolidated Statements of Financial Condition. Under the Dodd-Frank Act, IRA and non-IRA deposit accounts are permanently insured up to $250,000 by the DIF under management of the FDIC.
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