Premises and Equipment

12 Months Ended

Sep. 30, 2019

Property, Plant and Equipment [Abstract]

Premises and equipment consisted of the following at September 30, 2019 and 2018 (dollars in thousands):



	2019		2018
Land	$	5,404	$	4,400
Buildings and improvements	23,847		20,636
Furniture and equipment	9,012		8,026
Property held for future expansion	334		129
Construction and purchases in progress	338		566
	38,935		33,757
Less accumulated depreciation	16,105		14,804
Premises and equipment, net	$	22,830	$	18,953

The Company leases certain premises under operating lease agreements. Certain leases contain renewal options from five to ten years and escalation clauses. Total rental expense was $332,000, $206,000 and $275,000 for the years ended September 30, 2019, 2018 and 2017, respectively, which is 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, 2019 are as follows (dollars in thousands):



2020	$	315
2021	229
2022	35
Total minimum payments required	$	579