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Premises And Equipment | 12 Months Ended
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Dec. 31, 2017
Premises And Equipment [Abstract] |
Premises And Equipment | ﻿ NOTE 8- PREMISES AND EQUIPMENT Year-end premises and equipment were as follows:
﻿ |  |  |  |  |
﻿ | December 31, 2017 |  | December 31, 2016
﻿Land and land improvements | $ | 1,293 |  | $ | 1,293
﻿Buildings |  | 3,938 |  |  | 3,832
﻿Furniture, fixtures and equipment |  | 2,316 |  |  | 2,150
﻿ |  | 7,547 |  |  | 7,275
﻿Less: Accumulated Depreciation |  | (4,014) |  |  | (3,846)
﻿ | $ | 3,533 |  | $ | 3,429
﻿ Depreciation expense for 201 7 and 201 6 totaled $208 and $211, respectively. Operating Leases: The Company leases certain branch and loan office property space under three operating leases. Each lease requires CFBank to absorb its pro rata share of building operating expenses and utilities based on square footage. The Company entered into a lease agreement to open CFBank’s Glendale branch office in the Cincinnati market, which opened during the third quarter of 2017. The Glendale lease is for a 60-month term commencing on July 1, 2017, with three renewal options for additional consecutive terms of five years, five years, and four years. The Company leases a commercial banking agency o ffice in Woodmere, Ohio, which opened in January of 2014. The Woodmere lease is for a 128-month term commencing January 1, 2014 with no renewal options. The Company leases CFBank’s Fairlawn branch office pursuant to a ten year operating lease beginning in 2014 with annual rent increases each year. There is one five-year renewal option on this lease. Lease expense for the years ended December 31, 201 7 and 201 6 totaled $325 and $311, respectively. Leasehold improvements are depreciated straight line over the lease term before consideration of renewal options. ﻿ Lease expense is recognized evenly over the lease term to account for lease incentives. Rent commitments, before renewal options, are as follows:
﻿ |  |
﻿ |  |
﻿2018 | $ | 350
﻿2019 |  | 355
﻿2020 |  | 356
﻿2021 |  | 357
﻿2022 |  | 342
﻿Thereafter |  | 532
﻿ | $ | 2,292
﻿

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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