BANK PREMISES AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

BANK PREMISES AND EQUIPMENT, NET

BANK PREMISES AND EQUIPMENT, NET

Bank premises and equipment, net of accumulated depreciation and amortization, were comprised of the following at December 31, 2014 and 2013:

(dollars in thousands)	2014			2013
Land	$	32,117		32,631
Buildings and improvements	139,687			134,862
Furniture, fixtures and equipment	90,833			100,688
Leasehold improvements	11,547			11,855
Construction in progress	5,926			2,720
Total	280,110			282,756
Accumulated depreciation and amortization	(157,094		)	(158,428	)
Bank premises and equipment, net	$	123,016		124,328

The Company capitalized interest cost of $104,000, $71,000 and $31,000 during the years ended December 31, 2014, 2013 and 2012, respectively.

Depreciation and amortization expense for the years ended December 31, 2014, 2013 and 2012 was $11.7 million, $11.8 million and $12.0 million, respectively.

The Company leases land, office properties and equipment under operating leases. Certain of the leases contain renewal options and escalation clauses. Total rent expense was $9.7 million, $10.6 million and $11.5 million for the years ended December 31, 2014, 2013 and 2012, respectively.

Future minimum lease payments under non-cancellable operating leases extend through 2028 as follows:

(dollars in thousands)
Year ending December 31:
2015	$	8,018
2016	7,185
2017	5,142
2018	3,233
2019	2,593
Thereafter	9,401
Total future minimum lease payments	$	35,572

The Company also leases to unrelated parties a portion of its banking facilities. Rental income associated with these leases was $4.5 million, $4.3 million and $4.1 million for the years ended December 31, 2014, 2013 and 2012, respectively.