

NOTE 16 – LEASES

Certain branch offices and equipment are leased under agreements that expire at varying dates through 2036. Most leases contain renewal provisions at the Corporation’s option. Total rental expense was approximately $18.7 million in 2017, $18.4 million in 2016 and $18.1 million in 2015.

Future minimum payments as of December 31, 2017 under non-cancelable operating leases with initial terms exceeding one year are as follows (in thousands):



Year
2018	$	17,417
2019	15,730
2020	14,592
2021	12,988
2022	10,763
Thereafter	45,905
	$	117,395