Bank Premises and Equipment, Net

12 Months Ended

Dec. 31, 2011

Bank Premises and Equipment, Net [Abstract]

Note 5.

Bank Premises and Equipment, Net

A summary of the cost and accumulated depreciation of premises and equipment at December 31, 2011 and 2010 are as follows:

	2011			2010
Land	$	2,596,290		$	2,573,684
Buildings and improvements		14,706,439			14,778,771
Furniture and equipment		6,216,029			9,067,135
Leasehold improvements		289,059			295,740
Construction in process		1,256,687			80,041
		25,064,505			26,795,371
Accumulated depreciation and amortization		(10,275,894	)		(12,636,997	)
	$	14,788,611		$	14,158,374

Depreciation and amortization expensed for years ended December 31, 2011, 2010 and 2009 totaled $1,163,452, $1,234,425 and $808,312, respectively. In addition, during the years ended December 31, 2011 and 2010, fixed assets totaling $44,708 and $140,067, respectively, were deemed to be without value and disposed.

- 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