NOTE 5 - PREMISES AND EQUIPMENT

Components of premises and equipment at December 31 are as follows:


	2012			2011
	*(In Thousands)*
Land and improvements	$	2,238		$	2,228
Buildings and improvements		9,494			9,244
Furniture and equipment		3,998			3,801
		15,730			15,273
Accumulated depreciation		(8,404	)		(7,794	)

	$	7,326		$	7,479

Depreciation expense totaled $570,000, $531,000 and $459,000 for the years ended December 31, 2012, 2011 and 2010, respectively.

Certain facilities are leased under various operating leases. Rental expense for these leases was $327,000, $299,000 and $254,000, respectively for the years ended December 31, 2012, 2011 and 2010. Future minimum rental commitments under noncancellable leases as of December 31, 2012 were as follows (in thousands):

	2013		$ 321
	2014		312
	2015		309
	2016		239
	2017		189
	Thereafter		1,868
			$3,238

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details