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Premises and Equipment

12 Months Ended

Dec. 31, 2012

NOTE 7: PREMISES AND EQUIPMENT

Premises and equipment at December 31, 2012 and 2011 is presented below

			December 31
(Dollars in thousands)		2012		2011
Land		$	4,983		4,983
Buildings and improvements			9,110		7,784
Furniture, fixtures, and equipment			3,132		3,200
	Total premises and equipment		17,225		15,967
Less: accumulated depreciation			(6,697)		(6,622)
	Premises and equipment, net	$	10,528		9,345

Depreciation expense was approximately $366 thousand, $328 thousand, and $319 thousand for the years ended December 31, 2012, 2011 and 2010, respectively, and is a component of net occupancy and equipment expense in the consolidated statements of earnings.

- 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.

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