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Premises and Equipment
 12 Months Ended
Dec. 31, 2012
Premises and Equipment [Abstract]  
Premises and Equipment

Note 5—Premises and Equipment

The major categories of banking premises and equipment and accumulated depreciation at December 31 are summarized below:

 

                 
    (In Thousands)  
    2012     2011  

Land

   $ 4,337     $ 3,635  

Buildings (useful life 15-39 years)

     19,130       18,979  

Construction in Progress

     274       —    

Furnishings (useful life 3-15 years)

     10,361       9,994  
   

 

 

    

 

 

  
      34,102       32,608  

Less: Accumulated depreciation

     (16,503 )      (15,624 ) 
   

 

 

    

 

 

  

Premises and Equipment (Net)

   $ 17,599     $ 16,984  
   

 

 

    

 

 

  

The construction contract for our new Waterville office, which is in progress, has an amount yet to be paid of $605 thousand totaling a completed contract of $825 thousand. The architect contract totals $54 thousand with $15 thousand yet to be paid.

Depreciation expense for the years ended December 31, 2012, 2011 and 2010 amounted to $1.2, $1.1, and $1.1 million, respectively.