Premises and equipment

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment

Premises and Equipment

Note15 - Premises and equipment

The premises and equipment are stated at cost less accumulated depreciation and amortization as follows:

(In thousands)	Useful life in years		2016		2015
Land		$	120,519	$	116,701
Buildings	10-50		516,758		495,631
Equipment	2-10		309,294		302,656
Leasehold improvements	3-10		76,637		70,449
			902,689		868,736
Less - Accumulated depreciation
and amortization			514,892		503,829
Subtotal			387,797		364,907
Construction in progress			35,665		21,003
Total premises and equipment, net		$	543,981	$	502,611

Depreciation and amortization of premises and equipment for the year 2016 was $46.9 million (2015-$47.5 million; 2014 -$47.1 million), of which $22.6million (2015 -$22.9million; 2014 - $23.8 million) was charged to occupancy expense and $24.3 million (2015 - $24.6million; 2014 -$23.3 million) was charged to equipment, communications and other operating expenses. Occupancy expense is net of rental income of $27.8 million (2015 - $28.1 million; 2014 -$28.1 million).