v3.19.1
Premises and Equipment
 12 Months Ended
Dec. 31, 2018
Property, Plant and Equipment [Abstract]  
Premises and Equipment
Premises and Equipment
The following table presents a composition of premises and equipment as of the dates indicated:
 
 
December 31,
($ in thousands)
 
2018
 
2017
Leasehold improvements
 
$
6,787

 
$
6,612

Furniture, fixtures and equipment
 
2,992

 
3,093

Computer equipment
 
2,033

 
1,968

Computer software
 
1,262

 
748

Total premises and equipment
 
13,074

 
12,421

Less: accumulated depreciation
 
(8,486
)
 
(7,698
)
Premises and equipment, net
 
$
4,588

 
$
4,723

 
 
 
 
 

The Company recognized depreciation expense of $1.3 million, $1.1 million and $1.0 million for the years ended December 31, 2018, 2017 and 2016, respectively
The Company leases its offices and loan production offices under operating leases that expire at various dates through April 30, 2027. The Company is also responsible for its pro rata share of common area expenses including maintenance, taxes, and insurance to the extent that the expenses exceed the Company’s pro rata share of the base year expenses.
The following table presents the future lease rental payable under non-cancelable operating lease commitments for the Company’s offices and loan production offices as of December 31, 2018:
($ in thousands)
 
2019
 
2020
 
2021
 
2022
 
2023
 
Thereafter
 
Total
Operating lease
 
$
2,446

 
$
2,350

 
$
1,985

 
$
1,864

 
$
1,549

 
$
1,104

 
$
11,298

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

The minimum rental payments shown above are given for the existing lease obligations and are not a forecast of future rental expense. Total rental expense was approximately $2.7 million, $2.6 million and $2.6 million for the years ended December 31, 2018, 2017 and 2016, respectively.