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ASSET PURCHASES
 6 Months Ended
Jun. 30, 2013
Business Combinations [Abstract]  
ASSET PURCHASES
NOTE 3 ASSET PURCHASES

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 $312 thousand to be expensed in 2013, $156 thousand has been expensed as of June 30, 2013.

 

            (In Thousands)  
     Knisley      Hicksville      Total  

2013

    $ 157       $ 155       $ 312   

2014

      157         155         312   

2015

      —           155         155   

2016

      —           155         155   

2017

      —           79         79   

Thereafter

      —           —           —     
  

 

 

     

 

 

     

 

 

  
   $ 314       $ 699       $ 1,013