PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2014

NOTE 4. PREMISES AND EQUIPMENT

Premises and equipment at December 31, were as follows:


(in thousands)	2014		2013

Land	$	3,006	$	1,976
Buildings and improvements		14,351		7,755
Furniture, fixtures and equipment		9,126		7,000
Construction in progress		3,669		4,154
Leasehold improvements		1,734		1,203
		31,886		22,088
Accumulated depreciation		(6,414)		(5,169)
Net premises and equipment	$	25,472	$	16,919

During 2014, the Bank completed construction of a new facility in Kanawha County, West Virginia and a new facility in the West Virginia High Technology Park in Fairmont, Marion County, West Virginia.

Depreciation expense amounted to $1,245 and $936 for 2014 and 2013, 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.

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