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Bank Premises and Equipment | 12 Months Ended
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Dec. 31, 2018
Property, Plant and Equipment [Abstract] |
Bank Premises and Equipment | BANK PREMISES AND EQUIPMENT The components of bank premises and equipment as of December 31, 2018 and 2017, were as follows:
|  |  | December 31,
| Expected Useful Life |  | 2018 |  | 2017
(amounts in thousands) |
Leasehold improvements | 3 to 25 years |  | $ | 14,080 |  |  | $ | 14,028 |
Furniture, fixtures and equipment | 5 to 10 years |  | 7,110 |  |  | 6,447 |
IT equipment | 3 to 5 years |  | 8,645 |  |  | 8,002 |
Automobiles | 3 to 5 years |  | 455 |  |  | 506 |
|  | 30,290 |  |  | 28,983 |
Accumulated depreciation and amortization |  | (19,227 | ) |  | (17,028 | )
Total |  | $ | 11,063 |  |  | $ | 11,955 |
Depreciation expense and amortization of leasehold improvements, which are included on the consolidated statements of income in occupancy expenses, were $2.7 million, $2.8 million and $2.5 million for the years ended December 31, 2018, 2017 and 2016, respectively. Future minimum rental commitments pursuant to non-cancelable leases as of December 31, 2018, were as follows:
| December 31, 2018
(amounts in thousands)
2019 | $ | 5,577 |
2020 | 5,135 |
2021 | 4,513 |
2022 | 3,885 |
2023 | 2,856 |
Thereafter | 4,699 |
Total minimum payments | $ | 26,665 |
Rent expense was approximately $5.8 million, $5.2 million and $4.7 million for the years ended December 31, 2018, 2017 and 2016, 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.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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