PREMISES AND EQUIPMENT
|12 Months Ended|
Dec. 31, 2016
|Property, Plant and Equipment [Abstract]|
|PREMISES AND EQUIPMENT||
Premises and equipment are summarized as follows:
Increases in construction in progress are the result of the construction of a new headquarters building in Birmingham, Alabama. The new headquarters building will consist of approximately 97,500 square feet and will house the main office and all sales and operations staff currently housed in the Company’s current leased headquarters.
The provisions for depreciation charged to occupancy and equipment expense for the years ended December 31, 2016, 2015 and 2014 were $2,724,000, $2,219,000 and $1,838,000, respectively.
The Company leases land and building space under non-cancellable operating leases. Future minimum lease payments under non-cancellable operating leases at December 31, 2016 are summarized as follows:
For the years ended December 31, 2016, 2015 and 2014, annual rental expense on operating leases was $3,759,000, $2,919,000 and $2,674,000, respectively.
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.
Reference 1: http://www.xbrl.org/2003/role/presentationRef