BANK PREMISES AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

BANK PREMISES AND EQUIPMENT, NET

BANK PREMISES AND EQUIPMENT, NET

Bank premises and equipment, net of accumulated depreciation and amortization, were comprised of the following at December 31, 2013 and 2012:

	2013			2012
	(dollars expressed in thousands)
Land	$	32,631		33,324
Buildings and improvements	134,862			134,428
Furniture, fixtures and equipment	100,688			99,116
Leasehold improvements	11,855			12,014
Construction in progress	2,720			1,878
Total	282,756			280,760
Accumulated depreciation and amortization	(158,428		)	(153,240	)
Bank premises and equipment, net	$	124,328		127,520

The Company capitalized interest cost of $71,000, $31,000 and $23,000 during the years ended December 31, 2013, 2012 and 2011, respectively.

Depreciation and amortization expense for the years ended December 31, 2013, 2012 and 2011 was $11.8 million, $12.0 million and $13.4 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 $10.6 million, $11.5 million and $13.0 million for the years ended December 31, 2013, 2012 and 2011, respectively. Future minimum lease payments under non-cancellable operating leases extend through 2028 as follows:

	(dollars expressed in thousands)
Year ending December 31:
2014	$	9,098
2015	7,067
2016	6,210
2017	4,044
2018	2,566
Thereafter	11,087
Total future minimum lease payments	$	40,072

The Company also leases to unrelated parties a portion of its banking facilities. Rental income associated with these leases was $4.3 million, $4.1 million and $4.4 million for the years ended December 31, 2013, 2012 and 2011, respectively.