Premises And Equipment

12 Months Ended

Dec. 31, 2011

6. PREMISES AND EQUIPMENT

Premises and equipment and their depreciable lives are summarized as follows:


	2011			2010
Land	$	2,003,294		$	2,594,586
Premises (40 years)		12,010,845			21,351,248
Furniture, fixtures, and equipment (3-7 years)		12,225,556			12,035,252

Total		26,239,695			35,981,086
Less accumulated depreciation		(17,190,394	)		(19,372,174	)

Total	$	9,049,301		$	16,608,912

Depreciation expense of $696,083 and $756,142 was recorded in 2011 and 2010, respectively, on premises and equipment.

- 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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