Premises and Equipment

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment Disclosure [Text Block]

PREMISES AND EQUIPMENT

Premises and equipment consisted of the following:



	As of December 31,
	2013		2012
	(In thousands)
Leasehold improvements	$	39,445	$	35,548
Furniture, fixtures, and equipment	41,508		38,615
Buildings	4,724		4,724
Land	374		374
Subtotal	86,051		79,261
Less: accumulated depreciation and amortization	56,893		52,180
Premises and equipment, net	$	29,158	$	27,081

Depreciation and amortization expense related to premises and equipment was $6.2 million, $6.6 million, and $6.2 million for the years ended December 31, 2013, 2012, and 2011, respectively.

The Company is obligated for minimum payments under non-cancelable operating leases. In accordance with the terms of these leases, the Company is currently committed to minimum annual payments as follows:



	Minimum lease payments
	(In thousands)
2014	$	14,798
2015	14,479
2016	13,966
2017	11,153
2018	10,066
Thereafter	46,673
Total	$	111,135

Additionally, the Company remains a guarantor on a non-cancelable operating lease for a divested affiliate through 2016. Minimum lease payments on this lease are $0.7 million for each of the years 2014 and 2015; and $0.5 million for 2016.

Rent expense for the years ended December 31, 2013, 2012, and 2011 was $14.8 million, $16.3 million and $14.6 million, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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