Premises and Equipment

12 Months Ended

Sep. 30, 2014

Property, Plant and Equipment [Abstract]

Premises and equipment consisted of the following at September 30, 2014 and 2013 (dollars in thousands):



	2014		2013
Land	$	4,085	$	4,112
Buildings and improvements	17,546		17,344
Furniture and equipment	8,332		7,527
Property held for future expansion	110		110
Construction and purchases in progress	153		370
	30,226		29,463
Less accumulated depreciation	12,547		11,699

Premises and equipment, net	$	17,679	$	17,764

The Company leases certain premises under operating leases. Total rental expense was $267,000, $250,000 and $248,000 for the years ended September 30, 2014, 2013, and 2012, respectively, which was included in premises and equipment expense in the accompanying consolidated statements of income.

Minimum net rental commitments under non-cancellable leases having an original or remaining term of more than one year for fiscal years ending subsequent to September 30, 2014 are as follows (dollars in thousands):



2015	$	280
2016	225
2017	96
2018	96
2019	96
Thereafter	120

Total minimum payments required	$	913

Certain leases contain renewal options from five to ten years and escalation clauses based on increases in property taxes and other costs.

- 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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