Premises And Equipment

12 Months Ended

Dec. 31, 2017

Note 7. Premises and Equipment

At December 31, premises and equipment consisted of:


(Dollars in thousands)	Estimated Life	2017		2016
Land		$	2,962	$	3,000
Buildings and leasehold improvements	15 - 30 years, or lease term		24,347		24,190
Furniture, fixtures and equipment	3 - 10 years		12,447		11,902
Total cost			39,756		39,092
Less: Accumulated depreciation			(26,015)		(25,034)
Net premises and equipment		$	13,741	$	14,058

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


	2017		2016		2015
Depreciation expense	$	1,236	$	1,270	$	1,269
Rent expense on leases	$	704	$	713	$	735

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, 2017, future minimum payments on these leases are as follows:


(Dollars in thousands)
2018	$	634
2019		523
2020		490
2021		485
2022		482
2023 and beyond		3,628
Total	$	6,242