Bank Premises and Equipment

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

BANK PREMISES AND EQUIPMENT

The components of bank premises and equipment as of December 31, 2017 and 2016, were as follows:



		December 31,
	Expected Useful Life	2017			2016
(amounts in thousands)
Leasehold improvements	3 to 25 years	$	14,028		$	13,690
Furniture, fixtures and equipment	5 to 10 years	6,447			6,138
IT equipment	3 to 5 years	8,002			7,106
Automobiles	3 to 5 years	506			506
		28,983			27,440
Accumulated depreciation and amortization		(17,028		)	(14,671		)
Total		$	11,955		$	12,769

Depreciation expense and amortization of leasehold improvements, which are included on the consolidated statements of income in occupancy expenses, were $2.8 million, $2.5 million and $2.2 million for the years ended December 31, 2017, 2016 and 2015, respectively.

Future minimum rental commitments pursuant to non-cancelable leases as of December 31, 2017, were as follows:



	December 31, 2017
(amounts in thousands)
2018	$	5,499
2019	4,837
2020	4,192
2021	3,609
2022	2,989
Thereafter	6,431
Total minimum payments	$	27,557

Rent expense was approximately $5.2 million, $4.7 million and $3.8 million for the years ended December 31, 2017, 2016 and 2015, respectively. A majority of the leases provide for the payment of taxes, maintenance, insurance and certain other expenses applicable to the leased premises. Many of the leases contain extension provisions and escalation clauses. These leases are generally renewable and may, in certain cases, contain renewal provisions and options to expand and contract space and terminate the leases at predetermined contractual dates. In addition, escalation clauses may exist, which are tied to a predetermined rate or may change based on a specified percentage increase or the Consumer Price Index.