Office Properties and Equipment

12 Months Ended

Dec. 31, 2012

Office Properties and Equipment [Abstract]

OFFICE PROPERTIES AND EQUIPMENT

Office properties and equipment are summarized as follows:



	Estimated Useful Lives	December 31,
	Estimated Useful Lives	2012		2011
		(Dollars in thousands)
Land	—	$	3,453	$	3,588
Buildings	30-40 years	21,737		22,398
Leasehold improvements	2-5 years	1,125		1,156
Furniture and equipment	2-15 years	12,474		13,220
Construction in progress	—	—		77
		38,789		40,439
Less: accumulated depreciation and amortization		23,021		22,900
		$	15,768	$	17,539

Depreciation expense charged to operations for the years ended 2012, 2011, and 2010, was $1.5 million, $1.5 million, and $1.6 million, respectively. During 2012, the Company closed its Bolingbrook and Orland Park, Illinois, banking centers. The Bolingbrook office building and land were transferred into other real estate owned and carried at a net book value of $959,000 at December 31, 2012. At December 31, 2012, the Orland Park banking center was under a lease expiring in 2013. The leasehold improvements related to the Orland Park banking center were written off during 2012 and totaled $10,000. During 2012 and 2011, the Company also wrote-off $77,000 and $413,000, respectively, of construction-in-process costs related to future banking center locations it no longer intends to utilize.

- 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.

+ References+ Details