Premises And Equipment

12 Months Ended

Dec. 31, 2015

Note 7. Premises and Equipment

Premises and equipment consist of:



		December 31
(Dollars in thousands)	Estimated Life	2015		2014
Land		$	3,000	$	3,000
Buildings and leasehold improvements	15 - 30 years, or lease term		23,985		23,342
Furniture, fixtures and equipment	3 - 10 years		11,669		11,341
Total cost			38,654		37,683
Less: Accumulated depreciation			(23,895)		(22,637)
Net premises and equipment		$	14,759	$	15,046

The following table shows the amount of depreciation and rental expense for the years ended December 31:



	2015		2014		2013
Depreciation expense	$	1,269	$	1,360	$	1,419
Rent expense on leases	$	735	$	671	$	673

The Corporation leases various premises and equipment for use in banking operations through 2032. Some of these leases provide renewal options of varying terms. The rental cost of these optional renewals is not included below. At December 31, 2015, future minimum payments on these leases are as follows:



(Dollars in thousands)
2016	$	734
2017		678
2018		599
2019		499
2020		484
2021 and beyond		4,514
	$	7,508