LEASE COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

21. LEASE COMMITMENTS AND CONTINGENCIES

Commitments

In September 2014, the Company entered into a non-cancelable lease for office space which commenced in July 2014 and expires in September 2025. The lease expense for the years ended December 31, 2017, 2016, and 2015 was $3.1 million, $3.1 million and $2.9 million, respectively. The Company’s aggregate future minimum lease payments total $29.1 million.

The following table details the future lease payments:



Years Ending December 31,	Lease Commitments
	(dollars in thousands)
2018	$	3,565
2019	3,565
2020	3,652
2021	3,862
2022	3,862
Later years	10,618
Total	$	29,124

Contingencies

From time to time, the Company is involved in various claims and legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not have a material effect on the Company’s consolidated financial statements. There were no material contingencies at December 31, 2017 and 2016.