Leases

The Corporation and FBB occupy space in Madison, WI under an operating lease agreement that expires on July 7, 2028. FBB has five loan production offices in Appleton, Oshkosh, Green Bay, Manitowoc and Kenosha, Wisconsin that occupy office space under separate operating lease agreements that expire on various dates between July 2016 and January 2018. FBB – Milwaukee occupies office space under an operating lease agreement that expires on November 30, 2020. Alterra occupies office space in Leawood, KS under an operating lease agreement that expires on May 31, 2023. Alterra also owns a branch location in Overland Park, KS. The Corporation’s total rent expense was $1.7 million, $1.3 million and $1.2 million for the years ended December 31, 2015, 2014 and 2013, respectively. Rent expense is recognized on a straight-line basis. The Corporation also leases other office equipment. Rental expense for these operating leases was $109,000, $37,000 and $29,000 for the years ended December 31, 2015, 2014 and 2013, respectively.

Future minimum lease payments for noncancelable operating leases for each of the five succeeding years and thereafter are as follows:



(In Thousands)
2016	$	1,227
2017	1,089
2018	1,030
2019	1,044
2020	1,036
Thereafter	5,518
	$	10,944