Premises And Equipment

12 Months Ended

Dec. 31, 2011

Note 7 – Premises and equipment

Property and equipment at December 31, 2011 and 2010 are summarized as follows:


		December 31,
		2011		2010
Land	$	2,235	$	2,235
Building and improvements		5,092		5,034
Construction in progress		594		380
Furniture and equipment		6,277		5,855
Leasehold improvements		1,470		1,470
		15,668		14,974
Less accumulated depreciation		6,809		6,094

Net property and equipment	$	8,859	$	8,880

Total depreciation expense for the years ended December 31, 2011 and 2010 was $715 and $813, respectively.

- 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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