PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2017

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)		2017		2016
Land		$	10,160	$	10,160
Buildings and leasehold improvements			64,278		62,215
Equipment			37,452		35,152
	Total premises and equipment		111,890		107,527
Less: accumulated depreciation and amortization			(57,129)		(53,965)
	Net premises and equipment	$	54,761	$	53,562

Depreciation and amortization expense for premises and equipment amounted to $5.3 million, $5.3 million and $4.6 million for each of the years ended December 31, 2017, 2016and 2015, respectively.

Total rental expense of premises and equipment, net of rental income, for the years ended December 31, 2017, 2016and 2015was $7.9 million, $7.6 million, and $7.3 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
2018		$	6,490
2019			6,375
2020			6,042
2021			5,339
2022			4,519
Thereafter			15,479
	Total minimum lease payments	$	44,244