Premises and Equipment

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Premises and Equipment

PREMISES AND EQUIPMENT

The following table summarizes the Corporation's premises and equipment as of December 31, 2018 and 2017:

	2018			2017
Cost at December 31:
Land	$	21,762		$	22,042
Buildings and Leasehold Improvements	125,366			124,441
Equipment	86,498			82,344
Total Cost	233,626			228,827
Accumulated Depreciation and Amortization	(140,206		)	(132,975		)
Net	$	93,420		$	95,852

The IAB acquisition on July 14, 2017 and the Arlington Bank acquisition on May 19, 2017 resulted in additions to premises and equipment of $10,107,000 and $1,986,000, respectively. Details regarding the acquisitions are discussed in NOTE 2. ACQUISITIONS of these Notes to Consolidated Financial Statements.

The Corporation is committed under various non-cancelable lease contracts for certain subsidiary office facilities and equipment. Total lease expense for 2018, 2017 and 2016 was $4,369,000, $4,072,000 and $4,586,000, respectively. The future minimum rental commitments required under the operating leases, which expire at various dates through the year 2035, are as follows for the years ending December 31:

	Future Minimum Rental Commitments
2019	$	3,721
2020	3,584
2021	3,283
2022	3,150
2023	2,622
After 2023	12,495
Total Future Minimum Obligations	$	28,855