v3.3.1.900

Fixed Assets

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Fixed Assets

FIXED ASSETS

A summary of fixed assets at December 31, 2015 and 2014, is as follows:

	December 31,
(in thousands)	2015				2014
Land	$	3,103			$	3,103
Buildings and leasehold improvements	17,837				17,170
Furniture, fixtures and equipment	4,892				3,750
Capitalized software	1,030				735
	26,862				24,758
Less accumulated depreciation and amortization	12,020				10,005
Total fixed assets	$	14,842			$	14,753

Depreciation and amortization of fixed assets included in noninterest expense amounted to $2.0 million, $2.2 million, and $2.8 million in 2015, 2014, and 2013, respectively.

The Company has facilities leased under agreements that expire in various years through 2028. The Company's rent expense totaled $3.1 million, $2.9 million, and $3.0 million in 2015, 2014, and 2013, respectively. Sublease rental income was $0.1 million, $0.2 million, and $0.2 million for 2015, 2014, and 2013, respectively. For leases which renew or are subject to periodic rental adjustments, the monthly rental payments will be adjusted based on current market conditions and rates of inflation.

The future aggregate minimum rental commitments (in thousands) required under the leases are shown below:

Year	Amount
2016	$	3,019
2017	2,656
2018	2,395
2019	2,388
2020	2,348
Thereafter	8,362
Total	$	21,168

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- References

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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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.13-14)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2921-110230

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

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