Operating Leases

12 Months Ended

Dec. 31, 2014

15. Operating Leases

Certain premises and equipment are leased under operating leases. Additionally, certain premises are leased or subleased to third parties. These leases generally contain renewal options and require CTBI to pay all executory costs, such as taxes, maintenance fees, and insurance. Minimum non-cancellable rental payments and rental receipts are as follows:

(in thousands)	Payments		Receipts
2015		1,970		577
2016		1,411		339
2017		1,270		210
2018		862		78
2019		356		4
Thereafter		2,781		0
Total	$	8,650	$	1,208

Rental expense net of rental income under operating leases was $1.3 million for 2014, $1.2 million for 2013, and $0.8 million for 2012.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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