PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT

Premises and equipment are summarized as follows:

	December 31,
(dollars in thousands)	2018			2017
Land	$	49,518		$	39,299
Buildings and leasehold improvements	110,623			95,771
Furniture and equipment	53,425			48,809
Construction in progress	3,312			757
	216,878			184,636
Accumulated depreciation	(71,468		)	(66,898		)
	$	145,410		$	117,738

Depreciation expense was approximately $10.0 million, $9.2 million, and $9.5 million for the years ended December 31, 2018, 2017 and 2016, respectively.

At December 31, 2018, estimated costs to complete construction projects in progress and other binding commitments for capital expenditures were not a material amount.

Leases

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

Rental expense amounted to approximately $7.9 million, $4.9 million, and $4.5 million for the years ended December 31, 2018, 2017 and 2016, respectively. Future minimum lease commitments under the Company’s operating leases, excluding any renewal options, are summarized as follows (in thousands):

2019	$	6,386
2020	5,181
2021	4,523
2022	4,000
2023	2,983
Thereafter	8,312
	$	31,385