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Property and Equipment

12 Months Ended

Dec. 31, 2018

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)		2018				2017
Land		$	6,827			6,827
Buildings			24,064			23,990
Leasehold Improvements			2,899			2,220
Furniture and equipment			8,890			8,075
Software			329			306
Construction in process			281			40
			43,290			41,458
Accumulated depreciation			(10,860	)		(9,224	)
Total property and equipment		$	32,430			32,234

Construction in process at December 31, 2018 included costs associated with the upfit of leased office space in Greensboro, North Carolina, while the balance at December 31, 2017 included costs associated with the upfit of leased office space in Atlanta, Georgia. Depreciation and amortization expense for the years ended December 31, 2018 and 2017 was $1.8 million and $1.5 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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