Operating Lease Obligations

12 Months Ended

Dec. 31, 2013

Operating Lease Obligations [Abstract]

14. Operating Lease Obligations

The Company has entered into a number of arrangements that are classified as operating leases. The operating leases are for several branch and office locations. The majority of the branch and office location leases are renewable at the Company’s option. Future minimum lease commitments are based on current rental payments. Rental expense charged to operations, including license fees for branch offices, was $122,000, $114,000 and $108,000 in 2013, 2012 and 2011, respectively.

The following is a summary of future minimum rental payments for the next five years required under operating leases that have initial or remaining noncancellable lease terms in excess of one year as of December 31, 2013 (in thousands):


Years ending December 31,
	2014	$	121
	2015		89
	2016		83
	2017		44
	2018		-
	2019 and beyond		-
	Total minimum payments required	$	337

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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