Leases

12 Months Ended

Dec. 31, 2013

Note 21: Leases

The Company’s subsidiaries, The State Bank and Trust Company and RDSI Banking Systems, have several non-cancellable operating leases for business use that expire over the next ten years. These leases generally contain renewal options for periods of five years and require the lessee to pay all executory costs such as taxes, maintenance and insurance. Aggregate rental expense for these leases was $0.45 million, and $0.46 million for the years ended December 31, 2013, and 2012, respectively.

Future minimum lease payments under operating leases are:

($ in thousands)
2014	$	310
2015		95
2016		100
2017		86
2018		77
Thereafter		77

Total minimum lease payments	$	745

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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