PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2017

NOTE 6 – PREMISES AND EQUIPMENT

Year-end premises and equipment were as follows:

	2017			2016
Land and improvements	$	5,642		$	5,713
Buildings and leasehold improvements		21,539			21,577
Furniture and equipment		10,651			9,770
Assets purchased not yet placed in service		571			14
		38,403			37,074
Less: accumulated depreciation		(14,588	)		(12,850	)
	$	23,815		$	24,224

Operating Leases: The Company leases certain branch and other properties as well as some equipment under operating leases. Some leases provide for periodic rate adjustments based on cost-of-living index changes. Rent expense, net of rental income, was $1,082, $1,043, and $904 for 2017, 2016, and 2015. Rent commitments, before considering renewal options that generally are present, were as follows:

2018	$	1,073
2019		1,046
2020		1,008
2021		1,002
2022		977
Thereafter		983
	$	6,089