Bank Premises and Equipment

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Bank Premises and Equipment

BANK PREMISES AND EQUIPMENT

The components of bank premises and equipment as of December 31, 2015 and 2014 were as follows:

		December 31,
	Expected Useful Life	2015			2014
(amounts in thousands)
Leasehold improvements	3 to 25 years	$	12,531		$	11,680
Furniture, fixtures and equipment	5 to 10 years	5,312			4,504
IT equipment	3 to 5 years	5,909			4,696
Automobiles	5 to 10 years	206			174
		23,958			21,054
Accumulated depreciation		(12,427		)	(10,244		)
Total		$	11,531		$	10,810

Future minimum rental commitments under non-cancelable leases were as follows:

	December 31, 2015
(amounts in thousands)
2016	$	3,861
2017	3,662
2018	3,450
2019	2,826
2020	1,994
Subsequent to 2020	3,258
Total minimum payments	$	19,051

Rent expense was approximately $3.8 million, $3.3 million and $2.5 million for the years ended December 31, 2015, 2014 and 2013, respectively. Customers' leases are for land and branch or office space. A majority of the leases provide for the payment of taxes, maintenance, insurance and certain other expenses applicable to the leased premises. Many of the leases contain extension provisions and escalation clauses. These leases are generally renewable and may, in certain cases, contain renewal provisions and options to expand and contract space and terminate the leases at predetermined contractual dates. In addition, escalation clauses may exist, which are tied to a predetermined rate or may change based on a specified percentage increase or the Consumer Price Index.