Premises and equipment, net

12 Months Ended

Dec. 31, 2011

Premises and equipment, net [Abstract]

6. Premises and equipment, net:

Premises and equipment at December 31, 2011 and 2010 are summarized as follows:

December 31	2011		2010
Land	$	900	$	900
Premises and leasehold improvements		8,691		8,649
Furniture, fixtures and equipment		7,761		7,480
		17,352		17,029
Less: accumulated depreciation		9,436		8,791
	$	7,916	$	8,238

Depreciation expense was $837, $719, and $696 for the years ended December 31, 2011, 2010 and 2009, respectively.

Pursuant to the terms of non-cancelable lease agreements in effect at December 31, 2011, pertaining to banking premises and equipment, future minimum annual rent commitments under various operating leases are summarized as follows:

2012	$	107
2013		81
2014		73
2015		66
2016		34
Thereafter		370
	$	731

The leases contain options to extend for periods from one to ten years. The cost of such rentals is not included in the annual rentals. Rent expense for the years ended December 31, 2011, 2010, and 2009 amounted to $112, $95, and $107, respectively.

- 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.

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