Premises and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT

The following table is a summary of premises and equipment as of the dates presented:



	December 31,
(dollars in thousands)	2014			2013
Land	$	6,193		$	6,193
Premises	44,690			42,320
Furniture and equipment	26,661			25,139
Leasehold improvements	6,545			5,944
	84,089			79,596
Accumulated depreciation	(45,923		)	(42,981		)
Total	$	38,166		$	36,615

Depreciation expense related to premises and equipment was $3.5 million in 2014, $3.5 million in 2013 and $3.9 million in 2012.

Certain banking facilities are leased under arrangements expiring at various dates until the year 2054. We account for these leases on a straight-line basis due to escalation clauses. All leases are accounted for as operating leases, except for one capital lease. Rental expense for premises amounted to $2.7 million, $2.5 million and $2.4 million in 2014, 2013 and 2012. Included in the rental expense for premises are leases entered into with two S&T directors, which totaled $0.2 million each year in 2014, 2013 and 2012.

Minimum annual rental and renewal option payments for each of the following five years and thereafter are approximately:



(dollars in thousands)	Operating		Capital		Total
2015	$	2,274	$	76	$	2,350
2016	2,200		76		2,276
2017	2,178		76		2,254
2018	2,143		76		2,219
2019	2,156		77		2,233
Thereafter	40,352		687		41,039
Total	$	51,303	$	1,068	$	52,371

- 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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