6.	PREMISES AND EQUIPMENT

A summary of the cost and accumulated depreciation and amortization of premises and equipment follows:

 

										Estimated
		December 31,								Useful
		2013				2012				Lives
		(In thousands)
Land and land improvements		$	8,243			$	8,243			N/A
Buildings			33,393				32,850			40 years
Leasehold improvements			4,637				4,022			5-20 years
Equipment			16,154				14,398			3-7 years
			62,427				59,513
Less accumulated depreciation and amortization			(23,001	)			(20,794	)
		$	39,426			$	38,719

Depreciation and amortization expense for the years ended December 31, 2013, 2012 and 2011 amounted to $2.3 million, $2.1 million and $2.3 million, respectively.

 

Lease Commitments

The Company is obligated under non-cancelable operating lease agreements for banking offices and facilities. These leases have terms with renewal options, the cost of which is not included below. The leases generally provide that real estate taxes, insurance, maintenance and other related costs are to be paid by the Company. At December 31, 2013, future minimum lease payments are as follows:

 

Years Ending December 31,		Amount
		(In thousands)
2014		$	1,341
2015			1,350
2016			1,272
2017			1,091
2018			1,008
Thereafter			4,646
		$	10,708

Total rent expense for all operating leases amounted to $1.2 million, $963,000 and $708,000 for the years ended December 31, 2013, 2012 and 2011, respectively.