Premises and Equipment

12 Months Ended

Dec. 31, 2014

Note 5
Premises and Equipment

A summary of premises and equipment is as follows:

	December 31,
(In thousands)	2014		2013
Land	$	873	$	873
Buildings		12,541		10,801
Leasehold improvements		2,112		2,086
Furniture, fixtures and equipment		10,762		12,081
Purchased software		10,274		9,328
Internally developed software		2,527		2,650
		39,089		37,819
Less accumulated depreciation		22,180		24,588
Total	$	16,909	$	13,231

Total depreciation charged to expense in 2014, 2013 and 2012 amounted to $2,613,000, $2,361,000 and $1,951,000, 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 2014, 2013 and 2012 was $1,405,000, $1,222,000 and $547,000, 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, 2014:

(In thousands)	Amount
2015	$	1,213
2016		1,071
2017		1,050
2018		861
2019		624
2020-2023		2,022
Total	$	6,841

- 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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