PVTB » Topics » NOTE 7-PREMISES AND EQUIPMENT

This excerpt taken from the PVTB 10-K filed Feb 28, 2007.
NOTE 7—PREMISES AND EQUIPMENT
 
Bank and building premises and equipment at December 31, 2006 and 2005, consisted of the following (in thousands):
 
                 
    2006     2005  
Land
  $ 110     $ 110  
Building
    1,640       1,640  
Furniture, fixtures and equipment
    18,756       13,439  
Leasehold improvements
    19,277       10,928  
                 
      39,783       26,117  
Accumulated depreciation and amortization
    (18,370 )     (14,363 )
                 
Premises and equipment, net
  $ 21,413     $ 11,754  
                 
 
Included in occupancy expense is depreciation and amortization expense of $3.6 million, $4.0 million, and $1.7 million, for 2006, 2005, and 2004, respectively.
 
Each of the banks leases their main banking facilities and certain branch facilities under noncancellable operating lease agreements. The minimum annual rental commitments under these leases, at December 31, 2006, are as follows (in thousands):
 
         
2007
  $ 3,354  
2008
    3,523  
2009
    3,131  
2010
    2,986  
2011
    2,990  
2012 and thereafter
    24,593  
         
Total rental commitments
  $ 40,577  
         
 
Total rent expense, including expenses paid for common area maintenance, included in the consolidated statements of income was $4.5 million, $3.3 million, and $2.6 million, 2006, 2005, and 2004, respectively.
 
This excerpt taken from the PVTB 10-K filed Mar 8, 2006.

NOTE 7—PREMISES AND EQUIPMENT

Bank and building premises and equipment at December 31, 2005 and 2004, consisted of the following (in thousands):

 

     2005     2004  

Land

   $ 110     $ 110  

Building

     1,640       1,640  

Furniture, fixtures and equipment

     13,439       8,603  

Leasehold improvements

     10,928       6,524  
                
     26,117       16,877  

Accumulated depreciation and amortization

     (14,363 )     (10,391 )
                

Premises and equipment, net

   $ 11,754     $ 6,486  
                

Included in occupancy expense is depreciation and amortization expense of $4.0 million, $1.7 million, and $1.7 million for 2005, 2004 and 2003, respectively.

Each of the banks leases their main banking facilities and certain branch facilities under noncancellable operating lease agreements. The minimum annual rental commitments under these leases, at December 31, 2005, are as follows:

 

2006

   $ 3,189,064

2007

     3,509,226

2008

     3,643,972

2009

     3,195,899

2010

     3,055,092

2011 and thereafter

     22,743,613
      

Total rental commitments

   $ 39,336,866
      

Total rent expense, including expenses paid for common area maintenance, included in the consolidated statements of income was $3.3 million, $2.6 million, and $2.4 million for 2005, 2004 and 2003, respectively.

 

F-25


Table of Contents

PRIVATEBANCORP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

This excerpt taken from the PVTB 10-K filed Mar 10, 2005.

NOTE 7—PREMISES AND EQUIPMENT

 

Bank and building premises and equipment at December 31, 2004 and 2003, consisted of the following (in thousands):

 

     2004

    2003

 

Land

   $ 110     $ 110  

Building

     1,640       1,640  

Furniture, fixtures and equipment

     8,603       7,362  

Leasehold improvements

     6,524       5,727  
    


 


       16,877       14,839  

Accumulated depreciation and amortization

     (10,391 )     (8,606 )
    


 


Premises and equipment, net

   $ 6,486     $ 6,233  
    


 


 

Included in occupancy expense is depreciation and amortization expense of $1.7 million, $1.7 million, and $1.4 million for 2004, 2003 and 2002, respectively.

 

Each of the banks leases their main banking facilities and certain branch facilities under noncancellable operating lease agreements. The minimum annual rental commitments under these leases, at December 31, 2004, are as follows:

 

2005

   $ 1,786,914

2006

     2,690,212

2007

     2,962,113

2008

     3,170,600

2009

     2,928,697

2010 and thereafter

     43,835,091
    

Total rental commitments

   $ 57,373,627
    

 

Total rent expense, including expenses paid for common area maintenance, included in the consolidated statements of income was $2.6 million, $2.4 million, and $2.2 million for 2004, 2003 and 2002, respectively.

 

F-23


Table of Contents

PRIVATEBANCORP, INC. AND SUBSIDIARIES

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

RELATED TOPICS for PVTB:

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