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v3.3.1.900

Premises and Equipment | 12 Months Ended
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Dec. 31, 2015
Premises and Equipment [Abstract] |
Premises and Equipment | 9.Premises and Equipment The following table presents the components of premises and equipment at December 31, 2015 and 2014:
(in thousands) | 2015 | 2014
Land | $ | 7,304 | $ | 7,304
Land Improvements |  | 1,210 |  | 1,210
Premises |  | 25,272 |  | 25,112
Furniture and Equipment |  | 16,824 |  | 16,343
Capital Lease |  | 534 |  | 534
|  | 51,144 |  | 50,503
Less accumulated depreciation |  | (25,946) |  | (24,874)
Total | $ | 25,198 | $ | 25,629
The Corporation recorded depreciation expense of $1.8 million in 2015 and $1.9 million in 2014. Pursuant to the terms of non-cancelable operating lease agreements for banking and subsidiaries’ offices and for data processing and telecommunications equipment in effect at December 31, 2015, future minimum rent commitments under these leases for future years are as follows: (i) $.8 million for 2016; (ii) $.7 million for 2017; (iii) $.7 million for 2018; (iv) $.5 million for 2019; (v) $.4 million for 2020; and (vi) $4.3 million thereafter. The leases contain options to extend for periods from one to five years, which are not included in the aforementioned amounts. Total building and land rental expense amounted to $.5 million in 2015 and 2014.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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