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Leases

12 Months Ended

Dec. 31, 2014

Note 22.

Leases

The Company has long-term leases for two retail branches, one loan production office and office equipment. Lease expense for 2014 and 2013 was $103 thousand and $32 thousand, respectively. Pursuant to the terms of these leases, the following is a schedule, by year, of future minimum lease payments required under the long-term non-cancelable lease agreements (in thousands).


2015	$	149
2016		149
2017		93
2018		68
2019		28
Thereafter		—

	$	487

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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