The Bank has entered into three banking facility leases of greater than one year. Total rent expense was $686,000, $679,000 and $676,000 for 2018, 2017 and 2016, respectively, and was included in occupancy expense.

The Bank has two data processing contractual obligations of greater than one year. The expense for the Bank’s largest primary contractual obligation is for core data processing, and totaled $1.2 million for the year ended December 31, 2018 and $1.1 million for the years ended December 31, 2017 and 2016. In addition to core data processing, this contract provides for interchange processing where the expense is based on interchange volume. The interchange expense for 2018, 2017 and 2016 was $890,000, $739,000 and $831,000, respectively, and was more than offset by interchange income on the same transactions. The term of the current data processing obligation began in June 2014 and will end in December 2021, and is included in data processing expense in the Company’s consolidated statements of operations.

The following is a schedule by year of future minimum lease requirements and contractual obligations required under the long-term non-cancellable agreements:

(In thousands)	Amount
2019	$	3,038
2020		3,134
2021		3,218
2022		824
2023		797
Thereafter		11,731
Total	$	22,742

As a member of the Federal Reserve System, the Bank is required to maintain certain average reserve balances. For the final weekly reporting period for the year ended December 31, 2018 the Bank had no required reserve balances. For the year ended December 31, 2017 the aggregate amounts of daily average required balances was approximately $23.8 million.

In the normal course of business, there are various outstanding commitments and contingent liabilities, such as guarantees, commitments to extend credit, etc., which are not reflected in the accompanying consolidated financial statements. The Company does not anticipate a material impact on its financial statements. See Note 15 with respect to financial instruments with off-balance sheet risk.