

NOTE 16 – LEASES

Certain branch offices are leased under agreements that expire at varying dates through 2038. Most leases contain renewal provisions at the Corporation’s option. Total rental expense was approximately $19.0 million in 2018, $18.7 million in 2017 and $18.4 million in 2016.

Future minimum payments as of December 31, 2018 under non-cancelable operating leases with initial terms exceeding one year are as follows (in thousands):



Year
2019	$	18,013
2020	17,254
2021	15,681
2022	13,735
2023	11,367
Thereafter	43,307
	$	119,357