LEASES

Operating Leases

The Company has entered into forty noncancelable operating leases for the corporate headquarters, operations center, certain branch offices, and equipment. Future minimum lease payments under these leases for the years ending December 31 are presented below.



2015	$	4,066
2016	3,573
2017	3,103
2018	2,925
2019	2,114
Thereafter	5,354
Total	$	21,135

Certain of the leases contain renewal options for various additional terms after the expiration of the current lease term. Lease payments for the renewal period are not included in the future minimum lease table above. Rent expense for the years ended December 31, 2014, 2013 and 2012 totaled $4,048, $2,818 and $2,490, respectively.

Two of the properties used for bank branch operations are leased from related parties. Lease payments made to related parties for the year ended December 31, 2014, 2013 and 2012 totaled $760, $755 and $729, respectively.

Capital Leases

The Company has entered into two capital leases for banking offices. Leases that meet the criteria for capitalization are recorded as assets and the related obligations are reflected as part of long-term debt. The capital lease asset totaled $5,972 as of December 31, 2014. Future minimum lease payments under the capital leases are presented below.



2015	$	564
2016	571
2017	580
2018	588
2019	598
Thereafter	6,623
Total projected lease payments for capital leases	9,524
Imputed interest	(3,552		)
Present value of minimum lease payments	$	5,972