PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2016

NOTE 6 – PREMISES AND EQUIPMENT

Year-end premises and equipment were as follows:

	2016			2015
Land and improvements	$	5,713		$	4,541
Buildings and leasehold improvements		21,270			17,521
Furniture and equipment		8,608			8,898
Assets purchased not yet placed in service		14			34
		35,605			30,994
Less: accumulated depreciation		(11,381	)		(11,153	)
	$	24,224		$	19,841

Operating Leases: The Company leases certain branch and other properties as well as some equipment under operating leases. Some leases provide for periodic rate adjustments based on cost-of-living index changes. Rent expense, net of rental income, was $1,043, $904, and $935 for 2016, 2015, and 2014. Rent commitments, before considering renewal options that generally are present, were as follows:

2017	$	980
2018		466
2019		247
2020		242
2021		227
Thereafter		1,649
	$	3,811