Premises, Equipment, and Leases

12 Months Ended

Dec. 31, 2013

Note 8.

Premises, Equipment, and Leases

Premises and Equipment

Depreciation and amortization expense was $4.67 million in 2013, $4.03 million in 2012, and $3.98 million in 2011. The following table presents the components of premises and equipment as of the dates indicated:


	December 31,
(Amounts in thousands)	2013		2012
Land	$	19,884	$	19,366
Buildings and leasehold improvements		54,292		56,789
Equipment		36,983		36,775

		111,159		112,930
Accumulated depreciation and amortization		50,043		48,062

Total premises and equipment, net	$	61,116	$	64,868

Certain long-term investments in land and buildings were evaluated for impairment during 2013 due to the Company’s plan to close or consolidate seven branch locations in 2014. Write-downs related to these expected closures totaled $1.52 million in 2013.

Leases

The Company enters into various noncancelable operating leases. Lease expense was $1.18 million in 2013, $1.26 million in 2012, and $1.17 million in 2011. As of December 31, 2013, the Company did not sublease any portion of its noncancelable operating leases to third parties. The following schedule presents future minimum lease payments required under noncancelable operating leases, with initial or remaining terms in excess of one year, by year, as of December 31, 2013:


(Amounts in thousands)
2014	$	771
2015		434
2016		307
2017		200
2018		122
2019 and thereafter		1,068

	$	2,902

- 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.

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