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Premises and Equipment | 12 Months Ended
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Dec. 31, 2018
Property, Plant and Equipment [Abstract] |
Premises and Equipment | Note 5 - Premises and Equipment Premises and equipment include the following at December 31:
(dollars in thousands) |  | 2018 |  |  | 2017 |
Leasehold improvements |  | $ | 31,026 |  |  | $ | 31,451 |
Furniture and equipment |  |  | 31,168 |  |  |  | 29,667 |
Less accumulated depreciation and amortization |  |  | (45,343 | ) |  |  | (40,127 | )
Total premises and equipment, net |  | $ | 16,851 |  |  | $ | 20,991 |
Total depreciation and amortization expense for the years ended December 31, 2018, 2017 and 2016, was $5.6 million, $5.4 million and $5.0 million, respectively. The Company leases banking and office space in 29 locations under non-cancelable lease arrangements accounted for as operating leases. The initial lease periods range from five to ten years and provide for one or more five year renewal options. The leases in some cases provide for scheduled annual rent escalations and require that the Bank (lessee) pay certain operating expenses applicable to the leased space. Rent expense applicable to operating leases amounted to $8.3 million for the year 2018, and $8.5 million for each year 2017, and 2016, as the company has completed some consolidation and “right-sizing” of its banking offices network. The Company subleased three leased premises during 2018, and four leased premises during 2017 and 2016. The Company recorded $574 thousand, $455 thousand, and $579 thousand of sublease income as a reduction of rent expense during 2018, 2017, and 2016, respectively. At December 31, 2018, future minimum lease payments under non-cancelable operating leases having an initial term in excess of one year are as follows:
Years ending December 31: |  |
(dollars in thousands) | Amount |
2019 | $ | 8,435 |
2020 |  | 7,700 |
2021 |  | 7,611 |
2022 |  | 7,108 |
2023 |  | 6,750 |
Thereafter |  | 29,138 |
Total minimum lease payments | $ | 66,742 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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