Premises and Equipment

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

6. Premises and Equipment

Premises and equipment at December 31, 2011 and 2010 were summarized as follows:

(In thousands)	2011			2010
Banking offices and branch buildings	$	8,565		$	8,533
Furniture and equipment		4,526			3,953
Land		1,593			1,593
Leasehold improvements		1,409			1,409
		16,093			15,488
Accumulated depreciation and amortization		(6,439	)		(5,876	)
Premises and equipment, net	$	9,654		$	9,612

Depreciation and amortization expense is computed using the straight-line method over the estimated useful life of an asset. Estimated useful lives range from three to ten years for furniture and equipment, 39 years for the banking offices, and the initial lease term for leasehold improvements. Land is not depreciated. Depreciation and amortization expenses were $746,000, $806,000 and $821,000 for the years ended December 31, 2011, 2010 and 2009, respectively.

The Bank leases space for five of its branch offices. The leases for the branch offices have expiration dates ranging from 2013 through 2020, and are accounted for as operating leases. At December 31, 2011, future minimum rental income and lease payment expense are expected to be:

(In thousands)	Income		Expense
2012	$	97	$	335
2013		94		286
2014		28		276
2015		21		278
2016		-		230
Thereafter		-		465
Total future minimum rents	$	240	$	1,870