PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2011

9.	PREMISES AND EQUIPMENT

Premises and equipment consisted of the following as of December 31, 2011 and 2010:

	December 31,
	2011			2010
	(Dollars in thousands)

Land	$	9,006		$	9,006
Office buildings and improvements		89,846			89,537
Furniture, fixtures and equipment		33,730			33,323
		132,582			131,866
Accumulated depreciation and amortization		(81,168	)		(74,476	)
Net premises and equipment	$	51,414		$	57,390

In 2010, we recognized a gain of $7.7 million upon completion of the sale of an office building in Honolulu, Hawaii.

Depreciation and amortization of premises and equipment were charged to the following operating expenses:

	Year Ended December 31,
	2011		2010		2009
	(Dollars in thousands)

Net occupancy	$	3,641	$	3,988	$	4,148
Equipment		3,083		3,749		4,262
Total	$	6,724	$	7,737	$	8,410

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details