Annual report pursuant to Section 13 and 15(d)

Note 6 - Premises and Equipment

v3.8.0.1
Note 6 - Premises and Equipment
 12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]
NOTE
6.
PREMISES AND EQUIPMENT
 
Premises and equipment are summarized as follows:
 
    December 31,
    2017   2016
    (In Thousands)
Land   $
5,468
     $
5,506
  
Building    
36,259
      
7,817
  
Furniture and equipment    
23,297
      
18,668
  
Leasehold improvements    
9,599
      
7,469
  
Construction in progress    
88
      
14,115
  
Total premises and equipment, gross    
74,711
      
53,575
  
Accumulated depreciation    
(15,811
 )    
(13,261
 )
Total premises and equipment, net of accumulated depreciation   $
58,900
     $
40,314
  
 
Increases in land and building and decreases in construction in progress are the result of the recently completed headquarters building in Birmingham, Alabama. The new headquarters building, which opened in the
fourth
quarter of
2017,
consists of approximately
97,500
square feet and houses the main office, sales and operations staff.
 
The provisions for depreciation charged to occupancy and equipment expense for the years ended
December 31, 2017,
2016
and
2015
were
$2,568,000,
$2,724,000
and
$2,219,000,
respectively.
 
The Company leases land and building space under non-cancellable operating leases. Future minimum lease payments under non-cancellable operating leases at
December 31, 2017
are summarized as follows:
 
    (In Thousands)
2018   $
3,093
  
2019    
3,024
  
2020    
3,007
  
2021    
2,397
  
2022    
2,384
  
Thereafter    
3,641
  
Total   $
17,546
  
 
For the years ended
December 31, 2017,
2016
and
2015,
annual rental expense on operating leases was
$4,253,000,
$3,759,000,
and
$2,919,000,
respectively.