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Commitments And Contingent Liabilities
 12 Months Ended
Dec. 31, 2011
Commitments And Contingent Liabilities [Abstract]  
Commitments And Contingent Liabilities

(19) COMMITMENTS AND CONTINGENT LIABILITIES

The Company is a party to financial instruments with off balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include loan commitments and standby letters of credit which involve elements of credit and interest-rate risk to varying degrees. The Company's exposure to credit loss in the event of nonperformance by the other party to the instrument is represented by the instrument's contractual amount. To control this credit risk, the Company uses the same underwriting standards as it uses for loans recorded on the balance sheet. The amounts of financial instruments with off-balance-sheet risk are as follows:

 

     December 31,  
     2011      2010  
     (Dollars in thousands)  

Loan commitments

    $ 718,191       $ 625,970   

Stand-by letters of credit

      55,804         55,339   

 

Loan commitments are agreements to lend to a customer, as long as there is no violation of any condition established in the contract. Stand-by letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. These instruments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the instruments are expected to expire without being drawn upon, the total amounts do not necessarily represent commitments that will be funded in the future.

The Company leases office space in seventeen buildings, three parcels of land on which it owns buildings, and fifteen ATM locations. These leases expire at various dates through 2064.

The future minimum rental payments under these leases at December 31, 2011, were as follows (Dollars in thousands):

 

2012

    $ 764   

2013

      476   

2014

      270   

2015

      139   

2016

      116   

Later years

      621   
  

 

 

  

Total

    $ 2,386   
  

 

 

  

Rental expense on all property and equipment rented, including those rented on a monthly or temporary basis were as follows (Dollars in thousands):

 

Year Ending December 31:

   

2011

    $ 1,112   

2010

    $ 1,044   

2009

    $ 1,035   

The Company is a defendant in legal actions arising from normal business activities. Management believes that all legal actions against the Company are without merit or that the ultimate liability, if any, resulting from them will not materially affect the Company's financial position, results of operations or cash flows.