Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

v3.19.1
Commitments and Contingencies
6 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
12. Commitments and Contingencies

Leases

 

The Company leases space for all its branch offices, which are generally located either in downtown or suburban business centers, and for its corporate headquarters. Branch offices are generally leased over periods ranging from three to five years. The corporate office lease expires in 2020. The leases generally provide for payment of basic rent plus a share of building real estate taxes, maintenance costs and utilities.

 

Rent expense was $0.7 million and $1.5 million, and $0.9 million and $1.7 million for the three and six-month periods ended March 31, 2019 and 2018, respectively.

 

As of March 31, 2019 future minimum lease payments due under non-cancelable lease agreements having initial terms in excess of one year, including certain closed offices are as follows:

 

Remainder of Fiscal 2019   $ 1,080  
Fiscal 2020     1,649  
Fiscal 2021     1,043  
Fiscal 2022     979  
Fiscal 2023     769  
Thereafter     918  
Total   $ 6,438