FIXED ASSETS

A summary of fixed assets at December 31, 2017 and 2016, is as follows:



	December 31,
(in thousands)	2017		2016
Land	$	7,263	$	3,103
Buildings and leasehold improvements	32,384		18,054
Furniture, fixtures and equipment	8,272		6,136
Capitalized software	1,305		1,305
	49,224		28,598
Less accumulated depreciation and amortization	16,606		13,688
Total fixed assets	$	32,618	$	14,910

Depreciation and amortization of fixed assets included in noninterest expense amounted to $3.3 million, $2.4 million, and $2.0 million in 2017, 2016, and 2015, respectively.

The Company has facilities leased under agreements that expire in various years through 2029. The Company's rent expense totaled $3.3 million, $3.1 million, and $3.1 million in 2017, 2016, and 2015, respectively. Sublease rental income was $0.03 million, $0.1 million, and $0.1 million for 2017, 2016, and 2015, 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 Company's equipment and facilities leases are shown below:



Year	Amount
2018	$	3,503
2019	3,477
2020	3,418
2021	3,337
2022	2,801
Thereafter	5,962
Total	$	22,498

The Company has recorded a liability and corresponding expense for the difference between the net present value of future lease payments and its estimated sublease income on certain vacant branches. As of December 31, 2017, this liability was $2.0 million. The Company recorded expense for the estimated net lease liability of $0.4 million, $0.5 million, and $0.1 million in 2017, 2016, and 2015, respectively. The expense is recorded within other noninterest expense.