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Lease Commitments

12 Months Ended

Dec. 31, 2011

Note 22—Lease Commitments

The Company's subsidiary was obligated at December 31, 2011, under certain noncancelable operating leases extending to the year 2038 pertaining to banking premises and equipment. Some of the leases provide for the payment of property taxes and insurance and contain various renewal options. The exercise of renewal options is, of course, dependent upon future events. Accordingly, the following summary does not reflect possible additional payments due if renewal options are exercised.

Future minimum lease payments, by year and in the aggregate, under noncancelable operating leases with initial or remaining terms in excess of one year are as follows:

(Dollars in thousands)

Years Ending December 31,
2012	$	2,873
2013		2,603
2014		1,999
2015		1,923
2016		1,819
Thereafter		14,318

	$	25,533

Total lease expense for the years ended December 31, 2011, 2010, and 2009 was $4.2 million, $3.3 million and $2.4 million, respectively.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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