9. LEASES

The Bank leases premises and equipment under various operating lease agreements that provide for the payment of property taxes, insurance and maintenance costs. The following are future minimum capital lease payments as required under the agreements as of December 31, 2015:

(Dollars in thousands)	Amount
2016	$	110
2017		57
2018		56
2019		53
2020		28
Thereafter		—
Total	$	304

The capital leases had an average interest rate of 1.83% and an interest expense of $5 thousand for the year ended December 31, 2015.

The following are future minimum operating lease payments as required under the agreements:

(Dollars in thousands)	Amount
2016	$	47
2017		7
Total	$	54

Rent expense for all operating leases amounted to approximately $0.1 million in 2015 and 2014.

The Bank leases out office space in some of its vacant office space in its headquarters and branches. The following are the minimum rentals to be received under related lease agreements:


(Dollars in thousands)	Amount
2016	$	222
2017		152
2018		60
2019		62
2020		48
Total	$	544

Rental income for the years ended December 31, 2015 and 2014 was $0.2 million.