PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT

Note 6 – Premises and Equipment

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

(In thousands)		2015		2014
Land		$	9,954	$	9,954
Buildings and leasehold improvements			61,357		63,219
Equipment			31,419		37,758
	Total premises and equipment		102,730		110,931
Less: accumulated depreciation and amortization			(49,516)		(61,529)
	Net premises and equipment	$	53,214	$	49,402

Depreciation and amortization expense for premises and equipment amounted to $4.6 million for each of the years ended December 31, 2015, 2014and 2013, respectively.

Total rental expense of premises and equipment, net of rental income, for the years ended December 31, 2015, 2014and 2013was $7.3 million, $7.6 million and $7.4 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
2016		$	6,589
2017			5,525
2018			4,391
2019			4,489
2020			3,905
Thereafter			17,109
	Total minimum lease payments	$	42,008