Premises and Equipment

12 Months Ended

Dec. 31, 2011

Premises and Equipment

Premises and Equipment

(6)       Premises and Equipment

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

Premises and equipment at December 31, 2011 and 2010 are comprised of the following:

December 31,

(in thousands)	2011			2010
Leasehold improvements	$	973		$	906
Furniture & equipment	1,907			1,530
Software	561			527
Total	3,441			2,963
Accumulated depreciation	(2,346		)	(1,975		)
Premises and equipment, net	$	1,095		$	988

Depreciation and amortization included in occupancy expense for the years ended December 31, 2011 and 2010 amounted to $371,000 and $357,000, respectively.