content_image/57910.jpg content_image/57909.jpg
The components of the deferred tax asset and liability were as follows: 

<img src='content_image/57910.jpg'>

No valuation allowance was considered necessary for the deferred tax asset. 

The tax effect of the unrealized holding gain or loss for securities available for sale was computed based on a 25% capital gain tax rate, and is includ- ed in accumulated other comprehensive income as a part of stockholders’ equity. 

## Note 26 - Commitments >. 

At December 31, 2001 certain premises are leased with terms expiring through the year 2021. The Corporation has the option to renew or extend certain leases from two to ten years beyond the original term. Some of these leases require the payment of insurance, increases in prop- erty taxes and other incidental costs. At December 31, 2001, the obligation under various leases follows: 

<img src='content_image/57909.jpg'>

Rental expense included in occupancy and equipment expense was $4,240,437 in 2001 (2000 - $4,042,069; 1999 - $3,390,786). 

