Premises, Furniture, and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Premises, furniture, and equipment was comprised of the following classifications at December 31:



	2014			2013

Land	$	9,531		$	8,366
Buildings and Improvements	47,723			47,677
Furniture and Equipment	22,772			21,544
Total Premises, Furniture and Equipment	80,026			77,587
Less: Accumulated Depreciation	(40,096		)	(37,157		)
Total	$	39,930		$	40,430

Depreciation expense was $3,409, $2,910 and $2,941 for 2014, 2013 and 2012, respectively.

The Company leases three of its branch buildings under a capital lease. These lease arrangements require monthly payments through 2033. The Company has included the leases in buildings and improvements as follows:



	2014			2013

Capital Leases	$	4,219		$	3,896
Less: Accumulated Depreciation	(682		)	(483		)
Total	$	3,537		$	3,413

The following is a schedule of future minimum lease payments under the capitalized leases, together with the present value of net minimum lease payments at year end 2014:



2015	$	524
2016	524
2017	524
2018	524
2019	524
Thereafter	6,126
Total minimum lease payments	8,746
Less: Amount representing interest	(4,773		)
Present Value of Net Minimum Lease Payments	$	3,973

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details