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LEASES

12 Months Ended

Dec. 31, 2014

Some of the Bank's branches, telephone equipment, and other equipment are leased under agreements expiring at various dates through 2050. These leases are accounted for as operating leases. The leases generally provide for renewal options and most require periodic changes in rental amounts based on various indices. Minimum annual rentals for each of the years 2015 through 2019 and thereafter for non-cancelable leases having terms in excess of one year are as follows (in thousands):



2015	$	473
2016	406
2017	285
2018	198
2019	155
Thereafter	3,869
Total	$	5,386

Rental expense for all leased branches and equipment was approximately $537,000 in 2014, and $484,000 in 2013, and $451,000 in 2012.

- 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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