Premises and equipment

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment

Premises and Equipment

Note14 - Premises and equipment

The premises and equipment are stated at cost less accumulated depreciation and amortization as follows:

(In thousands)	Useful life in years		2017		2016
Land		$	120,519	$	120,519
Buildings	10-50		523,438		516,758
Equipment	2-10		319,394		309,294
Leasehold improvements	3-10		77,915		76,637
			920,747		902,689
Less - Accumulated depreciation
and amortization			524,901		514,892
Subtotal			395,846		387,797
Construction in progress			30,777		35,665
Total premises and equipment, net		$	547,142	$	543,981

Depreciation and amortization of premises and equipment for the year 2017 was $48.4 million (2016 -$46.9 million; 2015 - $47.5 million), of which $23.7 million (2016 - $22.6 million; 2015 - $22.9 million) was charged to occupancy expense and $24.7 million (2016 - $24.3 million; 2015 - $24.6 million) was charged to equipment, communications and other operating expenses. Occupancy expense is net of rental income of $26.6 million (2016 - $27.8 million; 2015 - $28.1 million).