Note 6 - Premises, Equipment and Other Assets

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment Disclosure [Text Block]

Note 6: Premises, Equipment and Other Assets

Premises and equipment consisted of the following:

	At December 31,
	Cost		Accumulated Depreciation and Amortization			Net Book Value
	(In thousands)
2012
Land	$	11,983	$	—		$	11,983
Buildings and improvements		44,009		(24,237	)		19,772
Leasehold improvements		6,175		(4,569	)		1,606
Furniture and equipment		18,805		(13,527	)		5,278
Total	$	80,972	$	(42,333	)	$	38,639
2011
Land	$	11,233	$	—		$	11,233
Buildings and improvements		42,454		(22,987	)		19,467
Leasehold improvements		5,963		(4,977	)		986
Furniture and equipment		18,292		(13,430	)		4,862
Total	$	77,942	$	(41,394	)	$	36,548

Depreciation of premises and equipment included in noninterest expense amounted to $2,626 thousand in 2012, $2,798 thousand in 2011 and $3,132 thousand in 2010.

Other assets consisted of the following:

	At December 31,
	2012		2011
	(In thousands)
Cost method equity investments:
Federal Reserve Bank stock (1)	$	14,069	$	14,069
Federal Home Loan Bank stock (2)		7,353		9,441
Other investments		376		376
Total cost method equity investments		21,798		23,886
Corporate/bank-owned life insurance		45,579		42,856
Deferred taxes		42,449		37,615
LIHTC investments		20,631		22,447
Interest receivable		20,274		23,262
FDIC receivable		13,847		40,113
Prepaid assets		11,679		13,980
Other assets		11,829		22,707
Total other assets	$	188,086	$	226,866

(1) A bank applying for membership in the Federal Reserve System is required to subscribe to stock in the Federal Reserve Bank (FRB) in a sum equal to six percent of the paid-up capital stock and surplus. One-half of the amount of the bank's subscription shall be paid to the FRB and the remaining half will be subject to call when deemed necessary by the Board of Governors of the Federal Reserve System.

(2) Borrowings from the Federal Home Loan Bank (FHLB) must be supported by capital stock holdings. The minimum activity-based requirement is 4.7% of the outstanding advances. The requirement may be adjusted from time to time by the FHLB within limits established in the FHLB's Capital Plan.