Bank Premises and Equipment

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

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.