7) Leases

Operating Leases

The Company owns one of its offices and leases the others under non‑cancelable operating leases with terms, including renewal options, ranging from five to fifteen years. Future minimum payments under the agreements are as follows:


	(Dollars
Year ended December 31,	in thousands)
2018	$	3,222
2019		3,215
2020		1,892
2021		1,079
2022		870
Thereafter		1,352
Total	$	11,630

Rent expense under operating leases was $3,226,000, $2,947,000, and $2,997,000 in 2017, 2016, and 2015, respectively.