Other Borrowings

12 Months Ended

Dec. 31, 2015

(8) OTHER BORROWINGS

Included in other borrowings is a long-term capital lease agreement, which relates to DNB’s West Goshen branch. As of December 31, 2015 the lease has a carrying amount of $206,000 net of accumulated depreciation of $544,000, and is included in the balance of office properties and equipment in the accompanying statements of financial condition. The following is a schedule of the future minimum capital lease payments, together with the present value of the net minimum lease payments, as of December 31, 2015:




	Year ended
(Dollars in thousands)	December 31
2016	$	107
2017		107
2018		106
2019		107
2020		106
Thereafter		175
Total minimum lease payments		708
Less amount representing interest		(244)
Present value of net minimum lease payments	$	464

DNB recognized rent expense of $614,000 and $765,000 for the years ended December 31, 2015 and 2014, respectively. The following is a schedule of the future minimum non-cancelable operating lease payments for the Operations Center in Downingtown, branches at Exton and Chadds Ford, and temporary locations in Exton and West Chester as of December 31, 2015.




	Year ended
(Dollars in thousands)	December 31
2016	$	445
2017		399
2018		399
2019		314
2020		254
Thereafter		121
Total minimum lease payments	$	1,932