Premises And Equipment

12 Months Ended

Dec. 31, 2012

7. Premises and Equipment

Following is a summary of premises and equipment:


December 31	2012			2011
Land	$	31,196		$	29,840
Premises		128,259			125,621
Equipment		101,144			92,693

		260,599			248,154
Accumulated depreciation		(120,232	)		(118,111	)

	$	140,367		$	130,043

Depreciation expense for premises and equipment was $13,937 for 2012, $12,457 for 2011 and $11,775 for 2010.

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 $8,784 for 2012, $6,960 for 2011 and $6,235 for 2010.

Total minimum rental commitments under such leases were $46,145 at December 31, 2012. Following is a summary of future minimum lease payments for years following December 31, 2012:


2013	$	7,619
2014		6,316
2015		5,313
2016		4,312
2017		3,561
Later years		19,024

- 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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