Commitments and Contingencies

9 Months Ended

Sep. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

10. Commitments and Contingencies

Leases and Subleases

The Company leases certain branch offices and equipment under operating lease agreements which expire at various dates through 2025. The Company has the option to renew the leases for its branch offices at fair rental values. In addition to rental payments, the branch leases require payments for property taxes in excess of base year taxes.

As of September 30, 2019, future minimum rental commitments under the terms of these leases, by year and in the aggregate, are as follows:


Years ending December 31:
2019	$	149
2020		627
2021		633
2022		578
2023		555
2024 and beyond		563
Total	$	3,105

Total rental expense charged to operations for cancelable and non-cancelable operating leases was $474 and $479 for the nine months ended September 30, 2019 and 2018, respectively. Rental income under subleases was $228 and $230 for the nine months ended September 30, 2019 and 2018, respectively.

Legal Matters

The Company is involved in various legal proceedings which have arisen in the normal course of business. Management believes that resolution of these matters will not have a material effect on the Company’s financial condition or results of operations.

Employment Agreements

The Company has entered into employment agreements with certain officers. The agreements provide for base salaries and incentive compensation based on performance criteria outlined in the agreements. The agreements also provide for insurance and various other benefits.