Commitments And Contingencies

12 Months Ended

Dec. 31, 2013

Commitments And Contingencies [Abstract]

Commitments And Contingencies

Note N—Commitments and Contingencies

1. Operating Leases

The Company leased its operations facility for a term expiring on August 31, 2018, and has leased its Philadelphia offices for a term expiring in 2014. The Company also has leases for business production offices in Pennsylvania, Maryland, Florida and Minnesota that expire at various times through 2017. The Company also leases space in South Dakota, USA, Gibraltar, United Kingdom, and Bulgaria for its prepaid card department. The leases on these spaces expire at various times through  2022. The Company also leases space in Illinois for its Small Business Lending division for a term expiring in 2020.  The Company also leases executive office space in New York for a term expiring in 2020.  These leases require the Company to pay the real estate taxes and insurance on the leased properties in addition to rent. The approximate future minimum annual rental payments, including any additional rents due to escalation clauses, required by these leases are as follows (in thousands):

Year ending December 31,
2014	$                        2,842
2015	2,154
2016	2,100
2017	2,117
2018	1,908
Thereafter	3,472
	$                      14,593

Rent expense for the years ended December 31, 2013, 2012 and 2011 was approximately $3.3 million, $2.8 million and $2.5 million, net of rental charged to subtenants of approximately $326,000,  $315,000 and$306,000, respectively.Future minimum rent payments due from subtenants are $171,000 in 2014.  The sublease expires in 2014.

2. Legal Proceedings

Various actions and proceedings are currently pending to which the Company or its subsidiary is a party. These actions and proceedings arise out of routine operations and, in management’s opinion, are not expected to have material impact on the Company’s financial position or results of operations.