COMMITMENTS AND CONTINGENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2013

COMMITMENTS AND CONTINGENT LIABILITIES [Abstract]

Maturity of outstanding letter of credit

The Company was contingently liable under standby letters of credit in the amount of $18 million and $19 million at December 31, 2013 and 2012, respectively. The outstanding letters of credit as of December 31, 2013 expire as follows (in thousands):

2014	$	17,418
2015		377
2016		342
Total	$	18,137

Minimum annual rentals, exclusive of taxes and other charges under non-cancelable operating leases

At December 31, 2013, the Company was obligated under a number of non-cancelable leases for land and buildings used for bank purposes. Minimum annual rentals, exclusive of taxes and other charges under non-cancelable operating leases, are as follows (in thousands):

	Capital		Operating
	Leases		Leases
2014	$	311	$	1,420
2015		317		1,365
2016		329		1,011
2017		341		856
2018		348		503
Thereafter		5,060		1,594
Total minimum lease payments		6,706	$	6,749
Less: amounts representing interest		2,094
Present value of minimum lease payments	$	4,612