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PREMISES AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Schedule of Premises and Equipment

Premises and equipment at December 31, 2016 and 2015 are as follows (in thousands):

		2016				2015
Land		$	4,803			$	4,803
Buildings		40,831				38,660
Projects in progress		—				167
Equipment and furniture		37,072				35,734
Leasehold improvements		5,445				5,759
		88,151				85,123
Less accumulated depreciation and amortization		59,228				55,726
Net book value		$	28,923			$	29,397

Rent Commitments, before Considering Renewal Options

Rent commitments, before considering renewal options that generally are present, were as follows (in thousands):

Year		Estimated Expense
2017		$	1,193
2018		1,179
2019		849
2020		555
2021		467
2022 and thereafter		3,398
Total		$	7,641

Schedule of Capital Leased Assets

The Corporation has included these leases in premises and equipment as follows:

		2016				2015
Buildings		$	5,572			$	3,537
Accumulated depreciation		(540		)		(232		)
Net book value		$	5,032			$	3,305

Schedule of Future Minimum Lease Payments for Capital Leases

The following is a schedule by year of future minimum lease payments under the capitalized lease, together with the present value of net minimum lease payments as of December 31, 2016 (in thousands):

Year		Amount
2017		$	367
2018		367
2019		367
2020		376
2021		388
2022 and thereafter		4,422
Total minimum lease payments		6,287
Less amount representing interest		1,565
Present value of net minimum lease payments		$	4,722

X

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
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-Section 50
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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

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Tabular disclosure of long-lived, depreciable assets that are subject to a lease meeting the criteria for capitalization and are used in the normal conduct of business to produce goods and services. Examples may include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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