PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT

Premises and equipment are summarized as follows:

	December 31,
(dollars in thousands)	2017			2016
Land	$	39,299		$	38,521
Buildings	95,771			94,533
Furniture and equipment	48,809			45,988
Construction in progress	757			1,533
	184,636			180,575
Accumulated depreciation	(66,898		)	(59,358		)
	$	117,738		$	121,217

Depreciation expense was approximately $9.2 million, $9.5 million, and $8.1 million for the years ended December 31, 2017, 2016 and 2015, respectively.

Leases

The Company has entered into various operating leases for certain branch locations, loan production offices, and corporate support services. Generally, these leases are on smaller locations with initial lease terms under ten years with up to two renewal options.

Rental expense amounted to approximately $4.9 million, $4.5 million, and $3.0 million for the years ended December 31, 2017, 2016 and 2015, respectively. Future minimum lease commitments under the Company’s operating leases, excluding any renewal options, are summarized as follows (in thousands):

2018	$	5,235
2019	4,602
2020	3,866
2021	3,419
2022	3,095
Thereafter	8,287
	$	28,504