Premises and Equipment

12 Months Ended

Dec. 31, 2015

NOTE 6, Premises and Equipment

Premises and equipment consisted of the following at December 31:

	2015		2014
	(in thousands)
Land	$	7,688	$	7,261
Buildings		37,848		38,301
Construction in process		555		291
Leasehold improvements		852		906
Furniture, fixtures and equipment		18,303		19,391
		65,246		66,150
Less accumulated depreciation and amortization		23,964		24,075
	$	41,282	$	42,075

Depreciation expense for the years ended December 31, 2015 and 2014 amounted to $2.5 and $2.3 million, respectively.

The Company has noncancellable leases on premises and equipment expiring at various dates, not including extensions, to the year 2020. Certain leases provide for increased annual payments based on increases in real estate taxes and the Consumer Price Index.

The total approximate minimum rental commitment at December 31, 2015 under noncancellable leases is $871 thousand which is due as follows (in thousands):

2016	$	236
2017		235
2018		167
2019		149
2020		84
Total	$	871

The aggregate rental expense of premises and equipment was $270 thousand and $281 thousand for December 31, 2015 and 2014, respectively.