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Premises and Equipment

12 Months Ended

Dec. 31, 2016

Premises and Equipment [Abstract]

Premises and Equipment

9. Premises and Equipment

The following table presents the components of premises and equipment at December 31, 2016 and 2015:





(in thousands)	2016		2015
Land	$	7,383	$	7,304
Land Improvements		1,201		1,210
Premises		25,696		25,272
Furniture and Equipment		17,506		16,824
Capital Lease		534		534
		52,320		51,144
Less accumulated depreciation		(25,160)		(25,946)
Total	$	27,160	$	25,198



The Corporation recorded depreciation expense of $1.7 million in 2016 and $1.8 million in 2015.



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, 2016, future minimum rent commitments under these leases for future years are as follows: (i) $3.4 million for 2017; (ii) $3.4 million for 2018; (iii) $3.1 million for 2019; (iv) $3.1 million for 2020; (v) $3.1 million for 2021; and (vi) $9.0 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 2016 and 2015.

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- References

No definition available.

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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=51717284&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=51719941&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

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