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Premises and Equipment
 12 Months Ended
Dec. 31, 2013
Property Plant And Equipment [Abstract]  
Premises and Equipment

9. PREMISES AND EQUIPMENT

Premises and equipment were comprised of the following as of December 31, 2013, and 2012, respectively:

 

     As of December 31,  
     2013     2012  
     (Dollars in thousands)  

Land

      $ 8,329        $ 8,329   

Bank premises

                  47,535                    47,156   

Furniture and equipment

      39,502        38,498   
  

 

 

    

 

 

  

Premises and equipment, gross

      95,366        93,983   

Accumulated depreciation and amortization

      (62,535 )      (58,903 ) 
  

 

 

    

 

 

  

Premises and equipment, net

      $ 32,831        $ 35,080   
  

 

 

    

 

 

  

Leases

The Company leases land and buildings under operating leases for varying periods extending to 2020, at which time the Company can exercise options that could extend certain leases through 2034. The future minimum annual rental payments required for leases that have initial or remaining noncancelable lease terms in excess of one year as of December 31, 2013, excluding property taxes and insurance, are as follows:

 

Year:

    As of December 31, 2013  
     (Dollars in thousands)  

2014

      $ 4,936   

2015

      4,492   

2016

      3,795   

2017

      2,740   

2018

      2,036   

Succeeding years

      2,082   
  

 

 

  

Total minimum payments required

      $                                   20,081   
  

 

 

  

Total rental expense for the Company was approximately $5.5 million, $5.6 million, and $5.8 million for the years ended December 31, 2013, 2012, and 2011, respectively.