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Premises and Equipment | 12 Months Ended
--- | ---
Dec. 31, 2015
Property, Plant and Equipment [Abstract] |
Premises and Equipment Disclosure [Text Block] | Note 6 - Premises and Equipment Premises and equipment are summarized as follows:
| Estimated |  |  |  |  |  |
| Useful Life |  |  |  |  |  |
| (Years) |  | 2015 |  | 2014
| (dollars in Thousands)
Land | - |  | $ | 2,403 |  | $ | 2,403
Buildings | 20-40 |  |  | 16,490 |  |  | 16,490
Furniture, fixtures and equipment | 3-7 |  |  | 27,235 |  |  | 24,809
Leasehold improvements | 10-20 |  |  | 12,230 |  |  | 10,757
Subtotal |  |  |  | 58,358 |  |  | 54,459
Less: accumulated depreciation and |  |  |  |  |  |  |
amortization |  |  |  | 35,291 |  |  | 32,977
Subtotal |  |  |  | 23,067 |  |  | 21,482
Less: fair value adjustment for |  |  |  |  |  |  |
acquired leases |  |  |  | (734) |  |  | (829)
Total premises and equipment, net |  |  | $ | 22,333 |  | $ | 20,653
Depreciation and amortization expense of premises and equipment was $2.3 million, $1.5 million and $0.9 million for 2015, 2014 and 2013, respectively. Capital Leases: As a result of the Merger, the Company acquired a lease agreement for a building under a capital lease. The lease arrangement requires monthly payments through 2028. The Company has included this lease in premises and equipment as follows (dollars in thousands):
| 2015 |  | 2014
Capital Lease | $ | 3,422 |  | $ | 3,422
Less: accumulated amortization |  | 1,198 |  |  | 1,026
| $ | 2,224 |  | $ | 2,396
The following is a schedule by year of future minimum lease payments under the capitalized lease, together with the present value of net minimum lease payments at December 31, 2015 (dollars in thousands):
2016 | $ | 292
2017 |  | 292
2018 |  | 292
2019 |  | 321
2020 |  | 321
Thereafter |  | 2,699
Total minimum lease payments |  | 4,217
Less amount representing interest |  | 1,332
Present value of net minimum |  |
lease payments | $ | 2,885
Operating Leases: Occupancy and equipment expense includes rentals for premises and equipment of $2,136,000 in 2015, $1,557,000 in 2014 and $1,094,000 in 2013. At December 31, 2014, the Company was obligated under a number of noncancelable leases for premises and equipment, many of which provide for increased rentals based upon increases in real estate taxes and the cost of living index. These leases, most of which have renewal provisions, are principally operating leases. Future minimum lease payments under these leases are as follows (dollars in thousands)
2016 | $ | 1,915
2017 |  | 1,548
2018 |  | 1,481
2019 |  | 1,350
2020 |  | 1,284
Thereafter |  | 5,463

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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 + Details
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