7. PREMISES AND EQUIPMENT

An analysis of premises and equipment follows:


	AT DECEMBER 31,
	2013		2012
	(IN THOUSANDS)
Land	$	1,208	$	1,208
Premises		25,752		24,430
Furniture and equipment		8,912		7,572
Leasehold improvements		803		690
Total at cost		36,675		33,900
Less: Accumulated depreciation and amortization		23,556		22,102
Net book value	$	13,119	$	11,798

The Company recorded depreciation expense of $1.7 million for 2013 and $1.5 for each of the years 2012 and 2011, 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.

+ References+ Details