Bank Premises and Equipment

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Bank Premises and Equipment

4. BANK PREMISES AND EQUIPMENT:

The following is a summary of bank premises and equipment (in thousands):

	Useful Life		December 31,
			2016			2015
Land		—	$	28,266		$	29,050
Buildings		20 to 40 years		115,566			106,515
Furniture and equipment		3 to 10 years		58,145			54,353
Leasehold improvements		Lesser of lease term or 5 to 15 years		4,783			4,328
				206,760			194,246
Less- accumulated depreciation and amortization				(84,075	)		(78,534	)
Total Bank Premises and Equipment			$	122,685		$	115,712

Depreciation expense for the years ended December 31, 2016, 2015 and 2014 amounted to $9,390,000, $9,125,000 and $7,833,000, respectively, and is included in the captions net occupancy expense and equipment expense in the accompanying consolidated statements of earnings.

The Company is lessor for portions of its banking premises. Total rental income for all leases included in net occupancy expense is approximately $2,139,000, $1,949,000 and $1,923,000, for the years ended December 31, 2016, 2015, and 2014, respectively.

During the years ended December 31, 2016, 2015 and 2014, the Company recorded gains (losses) on sale the of bank premises and equipment totaling $168,000, ($820,000) and $10,000. In 2016, the Company sold its Weatherford and Orange main region branch building for $1,385,000 and $2,000,000 and recorded a gain of $560,000 and a loss of $31,000, respectively. The Company recorded a write down of $1,000,000 in 2015 in anticipation of the Orange branch building sale.