PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2013

(5)	PREMISES AND EQUIPMENT

Premises and equipment as of December 31 consisted of the following:


(In thousands)	2013		2012
Land and land improvements	$	3,256	$	3,256
Leasehold improvements		56		56
Office buildings		10,391		10,324
Furniture, fixtures and equipment		4,620		4,550

		18,323		18,186
Less accumulated depreciation		7,976		7,429

Totals	$	10,347	$	10,757

Depreciation expense was $707,000 and $726,000 for the years ended December 31, 2013 and 2012, respectively.

- 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.

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