BANK PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2011

BANK PREMISES AND EQUIPMENT [Abstract]

NOTE 7 - BANK PREMISES AND EQUIPMENT

The components of bank premises and equipment at December 31, 2011 and 2010 are as follows:

Expected Useful Life		2011			2010
Leasehold improvements	3 to 25 years	$	8,706		$	3,762
Furniture, fixtures and equipment	5 to 10 years		2,666			1,639
IT equipment and software	3 to 5 years		3,640			2,490
Automobiles	5 to 10 years		127			127
			15,139			8,018
Less accumulated depreciation			(5,719	)		(3,318	)
		$	9,420		$	4,700

Future minimum rental commitments under non-cancelable leases as of December 31, 2011 were as follows:

2012	$	1,859
2013		1,780
2014		1,509
2015		1,089
2016		896
Subsequent to 2016		3,435
Total minimum payments	$	10,568

Rent expense, which includes reimbursements to the lessor for real estate taxes, was approximately $1,641, $1,108 and $788 for the years ended December 31, 2011, 2010 and 2009, 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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