PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Note 6 – Premises and Equipment

Presented in the following table are the components of premises and equipment at December 31:

(In thousands)		2014		2013
Land		$	9,954	$	9,954
Buildings and leasehold improvements			63,219		60,939
Equipment			37,758		39,756
	Total premises and equipment		110,931		110,649
Less: accumulated depreciation and amortization			(61,529)		(64,733)
	Net premises and equipment	$	49,402	$	45,916

Depreciation and amortization expense for premises and equipment amounted to $4.6 million, $4.6 million and $4.5 million for the years ended December 31, 2014, 2013 and 2012, respectively.

Total rental expense of premises and equipment, net of rental income, for the years ended December 31, 2014, 2013 and 2012 was $7.6 million, $7.4 million and $6.6 million, respectively. Lease commitments entered into by the Company bear initial terms varying from 3 to 15 years, or they are 20-year ground leases, and are associated with premises.

Future minimum lease payments, including any additional rents due to escalation clauses, for all non-cancelable operating leases within the years ending December 31 are presented in the table below:

		Operating
(In thousands)		Leases
2015		$	4,268
2016			6,028
2017			5,170
2018			4,201
2019			4,059
Thereafter			20,592
	Total minimum lease payments	$	44,318

- 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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