Premises and Equipment, Net

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT, NET (Note 7)

At December 31, 2014 and 2013, premises and equipment, net consisted of:



	2014			2013
	(in thousands)
Land	$	73,734		$	66,620
Buildings	199,960			191,207
Leasehold improvements	74,965			73,328
Furniture and equipment	210,455			197,161
	559,114			528,316
Accumulated depreciation and amortization	(276,117		)	(258,178		)
Total premises and equipment, net	$	282,997		$	270,138

Depreciation and amortization of premises and equipment included in non-interest expense for the years ended December 31, 2014, 2013 and 2012 amounted to approximately $19.5 million, $19.7 million, and $18.5 million, respectively.

During the fourth quarter of 2014, we sold a branch located at 62 West 47th Street in Manhattan for a pre-tax gain of approximately $17.8 million and entered into a long-term lease with an unrelated third party for a new location.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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