LEASES

Operating Leases

The Company has entered into various non-cancelable 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.



2016	$	3,720
2017	3,183
2018	2,986
2019	2,142
2020	982
Thereafter	4,507
Total	$	17,520

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, 2015, 2014 and 2013 totaled $4,540, $4,048, and $2,818, respectively.

Two of the leased properties used for bank branch operations are owned by a former director who was deemed to be a related party until the effectiveness of the 2014 Mergers. Lease payments for these two branches for the first six months of 2014 and the year 2013 totaled $381 and $755, 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 $5,752 as of December 31, 2015. Future minimum lease payments under the capital leases are presented below.



2016	$	574
2017	583
2018	591
2019	600
2020	608
Thereafter	5,785
Total projected lease payments for capital leases	8,741
Imputed interest	(2,989		)
Present value of minimum lease payments	$	5,752