Premises and Equipment, net

3 Months Ended

Mar. 31, 2013

6. Premises and Equipment, net

The following table summarizes premises and equipment balances, net at the dates indicated (in thousands).


	March 31,			December 31,
	2013			2012
Land	$	5,521		$	5,581
Buildings		19,589			19,541
Leasehold improvements		3,808			4,309
Furniture and equipment		12,891			12,640
Software		5,164			4,971
Bank automobiles		94			95
Capital lease asset		1,378			1,378

Premises and equipment, gross	$	48,445		$	48,515
Accumulated depreciation		(23,848	)		(23,719	)

Premises and equipment, net	$	24,597		$	24,796

At March 31, 2013, the Bank provided commercial and consumer banking products and services through 25 branches of which five were leased and 20 were owned. At March 31, 2013, the Bank also had six limited service offices located in retirement centers in the Upstate. Additionally, the Bank has one leased brokerage office in Greenville County, which is separate from any branch.

Depreciation expense for the three months ended March 31, 2013 and 2012 was $639 thousand and $781 thousand, 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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