Annual report pursuant to Section 13 and 15(d)

Note 5 - Premises and Equipment

v3.10.0.1
Note 5 - Premises and Equipment
 12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]
NOTE
5.
PREMISES AND EQUIPMENT
 
Premises and equipment are summarized as follows:
 
    December 31,
    2018   2017
    (In Thousands)
Land   $
5,489
     $
5,468
  
Building    
36,337
      
36,259
  
Furniture and equipment    
24,774
      
23,297
  
Leasehold improvements    
10,190
      
9,599
  
Construction in progress    
200
      
88
  
Total premises and equipment, cost    
76,990
      
74,711
  
Accumulated depreciation    
(19,168
 )    
(15,811
 )
Total premises and equipment, net   $
57,822
     $
58,900
  
 
The provisions for depreciation charged to occupancy and equipment expense for the years ended
December 31, 2018,
2017
and
2016
were
$3.4
million,
$2.6
million and
$2.7
million, 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, 2018
are summarized as follows:
 
    (In Thousands)
2019   $
3,084
  
2020    
3,028
  
2021    
2,426
  
2022    
2,455
  
2023    
2,008
  
Thereafter    
3,575
  
Total   $
16,576
  
 
For the years ended
December 31, 2018,
2017
and
2016,
annual rental expense on operating leases was
$3.2
million,
$4.3
million, and
$3.8
million, respectively.