PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT

NOTE 7. PREMISES AND EQUIPMENT

Premises and equipment are summarized as follows:

	December 31,
	2016		2015
	(dollars in thousands)
Land	$	38,521	$	38,806
Buildings		94,533		94,310
Furniture and equipment		45,988		48,140
Construction in progress		1,533		1,393
		180,575		182,649
Accumulated depreciation		(59,358)		(61,010)
	$	121,217	$	121,639

Depreciation expense was approximately $9.5 million, $8.1 million, and $6.6 million for the years ended December 31, 2016, 2015 and 2014, respectively.

Leases

The Company has entered into various operating leases for certain branch locations, mortgage 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 $4,482,000, $2,963,000, and $2,189,000 for the years ended December 31, 2016, 2015 and 2014, respectively. Future minimum lease commitments under the Company’s operating leases, excluding any renewal options, are summarized as follows (in thousands):

2017	$	4,638
2018		4,028
2019		3,384
2020		2,658
2021		2,181
Thereafter		5,235
	$	22,124