Premises and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

6.	PREMISES AND EQUIPMENT

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


	2014			2013
	(Dollars in Thousands)
Land	$	2,151		$	2,003
Premises (40 years)		12,340			12,294
Furniture, fixtures, and equipment (3-7 years)		12,895			12,695

Total		27,386			26,992
Less accumulated depreciation		(18,688	)		(18,178	)

		8,698			8,814
Construction in progress		1,066			114

Total	$	9,764		$	8,928

Depreciation expense of $0.8 million and $0.7 million was recorded in 2014 and 2013, respectively, on premises and equipment. Construction in progress as of December 31, 2014 primarily related to the cost of capital improvements on property acquired by the Bank in Tuscaloosa, Alabama, as well as capital improvements on the Bank’s principal office in Thomasville, Alabama.

- 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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