PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT

NOTE 8. PREMISES AND EQUIPMENT

Premises and equipment are summarized as follows:

	December 31,
	2015		2014
	(Dollars in Thousands)
Land	$	38,806	$	31,709
Buildings		94,310		79,692
Furniture and equipment		48,140		41,472
Construction in progress		1,393		971
		182,649		153,844
Accumulated depreciation		(61,010)		(56,593)
	$	121,639	$	97,251

Estimated costs to complete construction projects in progress were less than $1.5 million at December 31, 2015 and 2014. Depreciation expense was approximately $8.1 million, $6.6 million and $4.8 million for the years ended December 31, 2015, 2014 and 2013, respectively.

Leases

The Company has various operating leases with unrelated parties on 29 banking offices and seven mortgage offices. 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 $2,962,867, $2,189,000 and $1,777,000 for the years ended December 31, 2015, 2014 and 2013, respectively. Future minimum lease commitments under the Company’s operating leases, excluding any renewal options, are summarized as follows:

2016	$	2,999,694
2017		3,059,886
2018		2,685,184
2019		2,295,477
2020		2,074,955
Thereafter		1,508,542
	$	14,623,738