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Premises and Equipment
12 Months Ended
Dec. 31, 2015
Property, Plant and Equipment [Abstract]  
Premises and Equipment

10. PREMISES AND EQUIPMENT

Premises and equipment were comprised of the following for the periods presented.

 

     As of December 31,  
     2015      2014  
     (Dollars in thousands)  

Land

     $ 8,425         $ 8,425   

Bank premises

     48,251         48,481   

Furniture and equipment

                 36,265                     39,272   
  

 

 

    

 

 

 

Premises and equipment, gross

     92,941         96,178   

Accumulated depreciation and amortization

     (61,559      (62,587
  

 

 

    

 

 

 

Premises and equipment, net

     $ 31,382         $ 33,591   
  

 

 

    

 

 

 

Leases

The Company leases land and buildings under operating leases for varying periods extending to 2026, at which time the Company can exercise options that could extend certain leases through 2036. 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, 2015, excluding property taxes and insurance, are as follows:

 

Year:

     As of December 31, 2015    
     (Dollars in thousands)  

2016

     $ 5,307   

2017

     4,905   

2018

     3,500   

2019

     2,213   

2020

     1,232   

Thereafter

     1,435   
  

 

 

 

Total

     $                  18,592   
  

 

 

 

Total rental expense for the Company was approximately $5.5 million, $5.7 million and $5.5 million for the years ended December 31, 2015, 2014 and 2013, respectively.