Premises and Equipment

12 Months Ended

Dec. 31, 2011

Note 5 – Premises and Equipment

The composition of premises and equipment is summarized as follows:


	December 31,
	2011			2010
Furniture, fixtures, and equipment	$	354,836		$	351,356
Computer software		210,816			199,332
Leasehold improvements		134,359			132,823
Automobiles		38,915			38,915
Construction and FF&E in process		21,008			3,830
Total premises and equipment		759,934			726,256
Accumulated depreciation and amortization		(513,491	)		(392,705)
Premises and equipment, net	$	246,443		$	333,551

Depreciation and amortization expense for the years ended December 31, 2011 and 2010 was $117,539 and $167,662, respectively.

- 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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