XML 37 R22.htm IDEA: XBRL DOCUMENT v3.10.0.1
Commitments and Contingencies
12 Months Ended
Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
COMMITMENTS AND CONTINGENCIES
Lease Obligations
Lakeland is obligated under various non-cancelable operating leases on building and land used for office space and banking purposes. These leases contain renewal options and escalation clauses. Rent expense under long-term operating leases amounted to approximately $3.0 million, $3.1 million and $3.2 million for the years ended December 31, 2018, 2017 and 2016, respectively, including rent expense to related parties of $144,000 in 2018, $144,000 in 2017, and $141,000 in 2016. At December 31, 2018, the minimum commitments under all noncancellable leases with remaining terms of more than one year and expiring through 2033 are as follows (in thousands):
Year
 
2019
$
3,191

2020
3,055

2021
2,866

2022
2,572

2023
2,233

Thereafter
14,642

 
$
28,559


Litigation
There are no pending legal proceedings involving the Company or Lakeland other than those arising in the normal course of business. Management does not anticipate that the potential liability, if any, arising out of such legal proceedings will have a material effect on the financial condition or results of operations of the Company and Lakeland on a consolidated basis.