Premises and Equipment

12 Months Ended

Dec. 31, 2013

Note 5
Premises and Equipment

A summary of premises and equipment is as follows:

	December 31,
(In thousands)	2013		2012
Land	$	873	$	873
Buildings		10,801		10,564
Leasehold improvements		2,086		1,211
Furniture, fixtures and equipment		12,081		10,784
Purchased software		9,328		7,277
Internally developed software		2,650		2,650
	$	37,819	$	33,359
Less accumulated depreciation		24,588		22,624
Total	$	13,231	$	10,735

Total depreciation charged to expense in 2013, 2012 and 2011 amounted to $2,361,000, $1,951,000 and $1,955,000, respectively.

The Company and its subsidiaries lease various premises and equipment under operating lease agreements, which expire at various dates through 2023. Rental expense for 2013, 2012 and 2011 was $1,222,000, $547,000 and $598,000, respectively. The following is a schedule, by year, of future minimum rental payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2013:

(In thousands)	Amount
2014		1,338
2015		1,189
2016		1,047
2017		1,025
2018		850
2019-2023		2,646
Total	$	8,095

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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