Premises and Equipment

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Premises and Equipment

PREMISES AND EQUIPMENT

The following table summarizes the Corporation's premises and equipment as of December 31, 2017 and 2016:

	2017			2016
Cost at December 31:
Land	$	22,042		$	25,035
Buildings and Leasehold Improvements	124,441			114,444
Equipment	82,344			65,547
Total Cost	228,827			205,026
Accumulated Depreciation and Amortization	(132,975		)	(110,594		)
Net	$	95,852		$	94,432

The IAB acquisition on July 14, 2017 and the Arlington Bank acquisition on May 19, 2017 resulted in additions to premises and equipment of $10,107,000 and $1,986,000, respectively. Details regarding the acquisitions are discussed in NOTE 2. ACQUISITIONS of these Notes to Consolidated Financial Statements.

The Corporation is committed under various non-cancelable lease contracts for certain subsidiary office facilities and equipment. Total lease expense for 2017, 2016 and 2015 was $4,072,000, $4,586,000 and $3,456,000, respectively. The future minimum rental commitments required under the operating leases, which expire at various dates through the year 2035, are as follows for the years ending December 31:

	Future Minimum Rental Commitments
2018	$	3,161
2019	3,611
2020	3,484
2021	3,137
2022	3,090
After 2022	15,180
Total Future Minimum Obligations	$	31,663