Office Property And Equipment

12 Months Ended

Dec. 31, 2015

Office Property and Equipment [Abstract]

Office Property And Equipment

(5)  OFFICE PROPERTY AND EQUIPMENT

	Estimated	December 31
(Dollars in thousands)	Useful Lives	2015		2014
Land		$	840	$	840
Buildings and leasehold improvements	5-31.5 years		10,982		11,807
Furniture, fixtures and equipment	2-20 years		14,712		14,382
Total cost			26,534		27,029
Less accumulated depreciation			(19,728)		(19,361)
Office property and equipment, net		$	6,806	$	7,668

Amounts charged to operating expense for depreciation for the years ended December 31, 2015 and 2014 amounted to $825,000 and $894,000, respectively.

The Bank leases office space from Headwaters Associates, a Pennsylvania general partnership for which William S. Latoff (who passed away on January 11, 2016), the Company’s Chairman of the Board and Chief Executive Officer during 2015, was one of two general partners. Pursuant to the terms of the Lease, the Bank paid Headwaters an aggregate of $139,000 in 2015, and $306,000 in 2014. As a general partner in Headwaters, Mr. Latoff received $69,000 and $153,000 in 2015 and 2014, respectively, as a result of the lease.