Premises and Equipment

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Premises and Equipment

Premises and Equipment

See Note 1 for the Corporation’s accounting policy for premises and equipment. A summary of premises and equipment at December 31 was as follows.

		2017						2016
($ in Thousands)	Estimated Useful Lives	Cost		Accumulated Depreciation		Net Book Value		Net Book Value
Land	—	$	59,257	$	—	$	59,257	$	57,471
Land improvements	3 – 15 years	13,115		6,802		6,313		6,643
Buildings and improvements	5 – 39 years	341,947		143,516		198,431		202,152
Computers	3 – 5 years	42,604		31,526		11,078		9,051
Furniture, fixtures and other equipment	3 – 15 years	161,699		119,650		42,049		42,549
Leasehold improvements	3 – 15 years	34,701		20,866		13,835		12,449
Total premises and equipment		$	653,323	$	322,360	$	330,963	$	330,315

Depreciation and amortization of premises and equipment totaled $32 million in 2017, $32 million in 2016, and $33 million in 2015.

The Corporation conducts a portion of its business through certain facilities and equipment under noncancelable operating leases. The Corporation also leases a subdivision of some of its facilities and receives rental income from such lease agreements. The approximate minimum annual rental payments and rental receipts under noncancelable agreements and leases with remaining terms in excess of one year are as follows.

($ in Thousands)	Payments		Receipts
2018	$	9,815	$	3,783
2019	9,686		4,415
2020	8,886		1,996
2021	8,085		1,676
2022	5,796		724
Thereafter	22,447		774
Total	$	64,715	$	13,368

Total rental expense under leases, net of lease income, totaled $6 million in 2017, $8 million in 2016, and $13 million in 2015, respectively. The reduction of rental expense was mainly driven by leasing income generated by the Milwaukee Center (purchased April 2016) of $5 million in 2017 and $4 million in 2016, respectively.