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Property and Equipment

12 Months Ended

Dec. 31, 2017

Property and Equipment [Abstract]

Property and Equipment

NOTE 6 – Property and Equipment

Property and equipment are stated at cost less accumulated depreciation. Components of property and equipment included in the consolidated balance sheets are as follows:

		December 31,
(dollars in thousands)		2017				2016
Land		$	6,827			6,827
Buildings			23,990			14,833
Leasehold Improvements			2,220			2,020
Furniture and equipment			8,075			7,410
Software			306			421
Construction in process			40			6,225
			41,458			37,736
Accumulated depreciation			(9,224	)		(9,374	)
Total property and equipment		$	32,234			28,362

Construction in process at December 31, 2017 included costs associated with the upfit of leased office space in Atlanta, Georgia, while the balance at December 31, 2016 included costs associated with the construction of a new regional office in Charleston, South Carolina. Depreciation and amortization expense for the years ended December 31, 2017 and 2016 was $1.5 million and $1.3 million, respectively. Depreciation is charged to operations utilizing a straight-line method over the estimated useful lives of the assets. The estimated useful lives for the principal items follow:

Type of Asset		Life in Years
Software		3
Furniture and equipment		5 to 7
Leasehold improvements		5 to 15
Buildings		40

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- References

No definition available.

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- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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