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Premises and Equipment | 12 Months Ended
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Dec. 31, 2017
Property Plant And Equipment [Abstract] |
Premises and Equipment | NOTE 7—PREMISES AND EQUIPMENT Year-end premises and equipment were as follows:
|  |  | 2017 |  |  |  | 2016 |
Land |  | $ | 4,775 |  |  | $ | 4,972 |
Buildings |  |  | 24,692 |  |  |  | 25,064 |
Furniture, fixtures and equipment |  |  | 13,739 |  |  |  | 14,169 |
Leasehold Improvements |  |  | 482 |  |  |  | 466 |
|  |  | 43,688 |  |  |  | 44,671 |
Less accumulated depreciation |  |  | (21,402 | ) |  |  | (21,446 | )
NET BOOK VALUE |  | $ | 22,286 |  |  | $ | 23,225 |
Depreciation expense was $1.6 million for year ended December 31, 2017, $1.7 million for year ended December 31, 2016 and $1.5 million for year ended December 31, 2015. During August 2017 the Company added one location in Holmes County as part of the Monitor acquisition. All fixed assets were recorded at their fair market value. During June 2016 the Company added one location with the addition of Bowers Insurance Group in Trumbull County. All fixed assets were recorded at their fair market value. The Company leases certain branch properties under operating leases. Rent expense was $449, $362, and $332 thousand for 2017, 2016 and 2015, respectively. In addition to rent expense, under the leases, common area maintenance and property taxes are paid and the amount can fluctuate according to the costs incurred. Rent commitments, before considering renewal options that generally are present, were as follows:
2018 |  | $ | 425 |
2019 |  |  | 419 |
2020 |  |  | 384 |
2021 |  |  | 380 |
2022 |  |  | 270 |
Thereafter |  |  | 973 |
TOTAL |  | $ | 2,851 |

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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 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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