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Premises and Equipment
12 Months Ended
Dec. 31, 2018
Property Plant And Equipment [Abstract]  
Premises and Equipment

NOTE 6 — PREMISES AND EQUIPMENT

Premises and equipment consisted of the following:

 

 

December 31,

 

 

December 31,

 

(Dollars in thousands)

 

2018

 

 

2017

 

Land

 

$

13,119

 

 

$

10,534

 

Buildings

 

 

49,132

 

 

 

45,841

 

Leasehold improvements

 

 

13,191

 

 

 

4,928

 

Automobiles and aircraft

 

 

5,821

 

 

 

 

Furniture, fixtures and equipment

 

 

18,815

 

 

 

13,015

 

 

 

 

100,078

 

 

 

74,318

 

Accumulated depreciation

 

 

(16,686

)

 

 

(11,457

)

 

 

$

83,392

 

 

$

62,861

 

 

Depreciation expense was $5,720,000, $4,001,000 and $2,817,000 for the years ended December 31, 2018, 2017 and 2016, respectively.

The Company leases certain properties and equipment under operating leases. Rent expense was $3,229,000, $2,261,000 and $2,053,000 for the years ended December 31, 2018, 2017 and 2016, respectively. Rent commitments at December 31, 2018, before considering renewal options that generally are present, were as follows:

 

(Dollars in thousands)

 

 

 

 

2019

 

$

3,311

 

2020

 

 

3,299

 

2021

 

 

3,056

 

2022

 

 

2,853

 

2023

 

 

2,896

 

Thereafter

 

 

6,889

 

 

 

$

22,304