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BANK PREMISES AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 5 – Bank Premises and Equipment, Net

Bank premises and equipment, net of accumulated depreciation and amortization, were comprised of the following at December 31, 2011 and 2010:

		2011				2010
		(dollars expressed in thousands)
Land		$	30,967			43,471
Buildings and improvements			126,773			142,451
Furniture, fixtures and equipment			99,514			110,832
Leasehold improvements			14,600			14,262
Construction in progress			657			1,691
Total			272,511			312,707
Accumulated depreciation and amortization			(144,643	)		(151,293	)
Bank premises and equipment, net		$	127,868			161,414

The Company capitalized interest cost of $23,000, $42,000 and $282,000 during the years ended December 31, 2011, 2010 and 2009, respectively.

Depreciation and amortization expense for the years ended December 31, 2011, 2010 and 2009 was $13.1 million, $16.0 million and $16.8 million, respectively.

The Company leases land, office properties and equipment under operating leases. Certain of the leases contain renewal options and escalation clauses. Total rent expense was $12.8 million, $14.3 million and $14.7 million for the years ended December 31, 2011, 2010 and 2009, respectively. Future minimum lease payments under non-cancellable operating leases extend through 2084 as follows:

		(dollars expressed in
		thousands)
Year ending December 31 ⁽¹⁾:
2012		$	11,103
2013			8,125
2014			6,587
2015			4,868
2016			4,251
Thereafter			24,905
Total future minimum lease payments		$	59,839

____________________

(1)

Amounts exclude future minimum lease payments under non-cancellable operating leases associated with assets and liabilities of discontinued operations of $1.3 million, $1.3 million, $1.4 million, $1.3 million and $1.1 million for the years ended December 31, 2012, 2013, 2014, 2015 and 2016, respectively, and $4.4 million thereafter, or a total of $10.8 million.

The Company also leases to unrelated parties a portion of its banking facilities. Rental income associated with these leases was $4.3 million, $5.3 million and $5.9 million for the years ended December 31, 2011, 2010 and 2009, respectively.

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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