LAND, PREMISES AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

LAND, PREMISES AND EQUIPMENT, NET

NOTE 6 – LAND, PREMISES AND EQUIPMENT, NET

Land, premises and equipment and related accumulated depreciation were as follows at December 31, 2018 and 2017:

(dollars in thousands)	2018	2017
Land	$16,649	$16,172
Premises	44,717	41,694
Equipment	36,111	34,349
Total cost  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	97,477	92,215
Less accumulated depreciation	39,380	35,749
Land, premises and equipment, net	$58,097	$56,466

The Company had land, premises and equipment of $100,000 and $0 held for sale and included in other assets as of December 31, 2018 and 2017, respectively.

We rent certain premises and equipment under operating leases, which expire at various dates. Many of these leases require the payment of property taxes, insurance premiums, maintenance, and other costs. In some cases, rentals are subject to increase in relation to a cost-of-living index. The leases have original terms ranging from less than one year to 14 years.

Rent expense was $479,000 in 2018, $412,000 in 2017, and $377,000 in 2016. The following is a summary of future minimum lease commitments as of December 31, 2018:

(dollars in thousands)	2018
2019	$553
2020	571
2021	582
2022	595
2023	511
Thereafter	2,792
Total	$5,604