Premises And Equipment

12 Months Ended

Dec. 31, 2011

7. Premises and Equipment

Following is a summary of premises and equipment:


December 31	2011			2010
Land	$	29,840		$	26,721
Premises		125,621			118,115
Equipment		92,693			82,913

		248,154			227,749
Accumulated depreciation		(118,111	)		(111,793	)

	$	130,043		$	115,956

Depreciation and amortization expense of premises and equipment was $12,457 for 2011, $11,775 for 2010 and $11,865 for 2009.

The Corporation has operating leases extending to 2046 for certain land, office locations and equipment, many of which have renewal options. Leases that expire are generally expected to be replaced by other leases. Lease costs are expensed in accordance with ASC 840, Leases, taking into account escalation clauses. Rental expense was $6,960 for 2011, $6,235 for 2010 and $5,985 for 2009.

Total minimum rental commitments under such leases were $80,920 at December 31, 2011. Following is a summary of future minimum lease payments for years following December 31, 2011:


2012	$	6,386
2013		5,789
2014		4,614
2015		3,589
2016		2,629
Later years		57,913

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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