Premises and Equipment

3 Months Ended

Mar. 31, 2013

5. Premises and Equipment

Premises and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed on a straight-line basis over the shorter of the lease term, generally three to fifteen years, or the estimated useful lives of the assets, generally three to five years.

Premises and equipment at March 31, 2013 and December 31, 2012 are comprised of the following:

	March 31, 2013
			Accumulated			Net Book
(dollars in thousands)	Cost		Depreciation			Value

Leasehold improvements	$	5,975	$	(4,927	)	$	1,048
Furniture and fixtures	1,109		(1,033		)	76
Capitalized software	4,033		(3,590		)	443
Equipment	2,949		(2,529		)	420
Total premises and equipment	$	14,066	$	(12,079	)	$	1,987

	December 31, 2012
			Accumulated			Net book
(dollars in thousands)	Cost		Depreciation			Value

Leasehold improvements	$	5,885	$	(4,776	)	$	1,109
Furniture and fixtures	1,078		(1,028		)	50
Capitalized software	4,011		(3,512		)	499
Equipment	2,854		(2,470		)	384
Total premises and equipment	$	13,828	$	(11,786	)	$	2,042

Depreciation and amortization amounted to $293,000 and $287,000 for the three months ended March 31, 2013 and March 31, 2012, respectively, and has been included in occupancy and/or furniture and equipment expense, depending on the nature of the expense, in the accompanying statements of operations.

- 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.

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