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:



Year ended December 31,	(Dollars in thousands)
2019	$	4,032
2020		2,662
2021		1,365
2022		1,136
2023		605
Thereafter		691
Total	$	10,491

Rent expense under operating leases was $3,960,000, $3,226,000, and $2,947,000 in 2018, 2017, and 2016, respectively.