Premises and Equipment

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

9. Premises and Equipment

Premises and equipment are summarized as follows:

	December 31
	2017		2016
	(In Thousands)
Cost:
Land	$	7,977	$	7,534
Land improvements		1,326		1,310
Buildings		44,563		41,895
Leasehold improvements		971		971
Furniture, fixtures and equipment		34,216		31,253
Construction in process		1,402		787
		90,455		83,750
Less allowances for depreciation and amortization		(50,238)		(46,792)
	$	40,217	$	36,958

Depreciation expense was $3.6 million, $3.4 million and $3.3 million for the years ended December 31, 2017, 2016 and 2015, respectively.

 

Lease Agreements

The Company has entered into lease agreements covering ten First Insurance offices, four banking center locations, one loan production office, two land leases for which the Company owns the banking centers, one land lease which is primarily used for parking, one land lease for future branch development and numerous stand-alone Automated Teller Machine sites with varying terms and options to renew. First Federal and First Insurance share office space for one lease as a branch and insurance office.

Future minimum commitments under non-cancelable operating leases are as follows (In Thousands):

2018	$	826
2019		731
2020		629
2021		619
2022		530
Thereafter		7,690
Total	$	11,025

Rental expenses under operating leases amounted to $691,000, $571,000 and $601,000 in 2017, 2016, and 2015, respectively.