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Asset Purchase
 3 Months Ended
Mar. 31, 2013
Asset Purchase [Abstract]  
ASSET PURCHASE

NOTE 3 ASSET PURCHASE

In connection with a December 31, 2007 Knisely acquisition, the Company recognized a core deposit intangible asset of $1.1 million, which is being amortized on a straight line basis over 7 years, which represents the estimated remaining economic useful life of the deposits.

The Company also recognized core deposit intangible assets of $1.09 million with the purchase of the Hicksville office on July 9, 2010. These are being amortized over an estimated remaining economic useful life of the deposits of 7 years on a straight line basis.

The amortization expense for the year ended December 31, 2012 was $312 thousand. Of the $313 thousand to be expensed in 2013, $78 thousand has been expensed as of March 31, 2013.

 

                         
    (In Thousands)        
    Knisely     Hicksville     Total  

2013

   $  157     $ 156     $ 313  

2014

     157       156       313  

2015

     —         155       155  

2016

     —         155       155  

2017

     —         77       77  

Thereafter

     —         —         —    
   

 

 

    

 

 

    

 

 

  
    $ 314     $ 699     $ 1,013